Nike Nike (NYSE: NKE) is the sports footwear and apparel leader. While the Federal Reserve's recent interest rate hike of 0.5% -- the sharpest increase in the last 22 years -- was the immediate trigger, the four-decade high inflation and the monthslong global supply-chain issues have been the real culprits behind the slowing economy. A quick check of Nike's recent third-quarter earnings shows that Greater China made up close to 20% of the company's revenue and generates around 45% of operating profit.