While you were sleeping: Adidas wrong-foots

While you were sleeping: Adidas wrong-foots
By Margreet Dietz Aug. 1 (BusinessDesk) - Equities on both side of the Atlantic sank amid concern about US interest rate policy, a surprise profit warning from Adidas and a decision by Argentina to default on its debt. Shares of Germany’s Adidas tanked 15.5 percent after the company unexpectedly downgraded its full-year earnings outlook citing recent developments in Russia and lower demand for its golf products. Rival Nike’s shares also dropped for the second-largest percent decline in the Dow Jones Industrial Average. “The profit warn...