Nike loses $1 billion mcap after NBA prospect's shoe breaks

Shares of Nike fell 1% on Thursday, wiping off about $1.46 billion from the company's market capitalisation a day after its shoe worn by Duke University's 18-year-old basketball player split into half. Zion Williamson, a 6-foot-7-inch forward, who is anticipated to be the top 2019 NBA Draft pick, suffered a mild sprain to his right knee and is currently recovering.