Its Over, page-14666

The Nordstream pipeline sabotage and news of faltering iPhone demand both are adversely impacting market sentiment, as US futures dipped 232pts and the AUD falling below 64c , the S&P500 breaking away from 3636 to the downside.

A train wreck that is accelerating quickly !
Apple Ditches iPhone Production Increase After Demand Falters
September 28, 2022 at 11:21 AM GMT+10

Apple Inc. is backing off plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialize, according to people familiar with the matter, Bloomberg News reports.


Energy prices rally as supply tensions escalate in Europe
Alex GluyasMarkets reporter
Sep 28, 2022 – 11.31am


The European gas benchmark surged following accusations of Russian supply sabotage and a dispute between Gazprom and its Ukraine counterpart over payments, stoking fresh fears about supply security ahead of the Northern winter.

Underwater explosions causing gas leaks detected in the Baltic Sea damaged the Nord Stream system and forced an exclusion zone to be established off-limits to ships and aircraft. Gazprom threatened sanctions against Naftogaz over a payment disagreement.

Dutch front-month futures jumped more than 22 per cent before closing 7 per cent higher at €186.10 ($277) a megawatt hour. The UK equivalent price rose as much as 34 per cent, and closed 6.2 per cent higher at 255.65 pence a therm.

Russia has been accused of sabotaging gas pipelines to Germany. Danish Defence Command via AP
Russia’s state-run firm warned that Moscow might punish Naftogaz if it pursues arbitration proceedings against Gazprom. Earlier this month, Naftogaz alleged that Gazprom didn’t pay on time, or in full, for gas transportation through Ukraine.

The threat of sanctions added to the tensions that have undermined Europe's energy stability since Russia invaded Ukraine.