HSBC Faces Major Financial Setback Due to $3 Billion Impact from China Operations
Wednesday, 21 February 2024, 15:27
HSBC Stock Plummets on Significant $3B Loss from China Operations
Shares of HSBC Holdings (HSBC, 0005.HK) are moving lower Wednesday morning as the universal bank took a $3 billion hit from its operations in China, taking its quarterly profit down 80%. In addition, the company's guidance raised concerns with some analysts who called it unclear.
Yahoo Finance Anchors Brad Smith and Seana Smith break down the latest development for HSBC and what it could mean for the company moving forward. Editor's note: This article was written by Nicholas Jacobino
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