On Friday, the US stock exchanges ended an extremely volatile but deep red trading week clearly in the red. The Dow Jones fell by 4.55 percent or 913.21 points to 19,173.98 points, slipping to its lowest level since November 2016. At the weekly level, the world’s most famous stock market index had to post a massive drop of more than 17 percent. This was the weakest trading week since October 2008, according to CNBC financial information service, where it slumped more than 18 percent.
At the end of the week, the S & P-500 weakened by 4.34 percent or 104.47 points to 2,304.92 units and the Nasdaq Composite fell by 3.79 percent or 271.06 points to 6,879.52 points.
Record fluctuations
Wall Street saw record-high fluctuations last week due to concerns over the unpredictable effects of the coronavirus pandemic. “The markets act more on emotional influences than on current data,” said a fund manager. The recent downturn was mainly triggered by the current uncertainty among investors.
Airline stocks, which have been hardest hit in recent days, have started to moderate in part. American Airlines rose slightly 0.9 percent. United Airlines stocks, however, climbed 15 percent.
General Electric was up a moderate 0.6 percent. The U.S. agency has approved the sale of the biopharmaceutical business to Danaher.
At Uber, which rose 4.1 percent, an upgrade to “Overweight” could have a positive impact from Wells Fargo. In addition, the company claims to have a solid financial cushion. (apa)
–
