Nike and Volvo Shares Drop Amid China Market Struggles
Nike and Volvo Car shares fell after both companies reported sales declines and guidance cuts linked to a deteriorating market in China.
Shares of Nike fell 9% in premarket trading on October 2, 2026, after the sportswear company projected continued sales declines for the current fiscal year. The company specifically cited difficulties in China as a primary driver for the negative outlook.
Volvo Car shares also dropped 3% as the automaker scrapped its full-year guidance. The company attributed the decision to a deteriorating Chinese car market and a slow recovery in the United States.
Other global markets saw significant volatility. IG Group shares sank over 20% following a sharp cut to its growth forecast, while SoftBank Group closed lower in Tokyo as rising inflation in Japan increased expectations for central bank interest rate hikes. In contrast, crypto-linked stocks including Strategy and Coinbase Global saw gains as bitcoin rose above $86,000.
