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NEW YORK (dpa-AFX) – After the decisions of the US Federal Reserve meeting, Wall Street gave way on Wednesday. The Dow Jones Industrial (Dow Jones 30 Industrial) fell briefly below the 34,000 point mark and was most recently 0.78 percent lower at 34,030.28 points. The S&P 500, which covers the broader market, fell by 0.71 percent to 4216.30 meters. The technology-heavy NASDAQ 100 dropped 0.79 percent to 13,919.20 points.
The US Federal Reserve has its very loose Monetary policy confirmed. The key interest rate will remain in the range of zero to 0.25 percent, the Fed announced after its interest rate meeting. Economists had expected the decision. The aim of the loose line is to support the US economy in the corona pandemic.
Among the individual stocks, the shares of Oracle were particularly under pressure with a price discount of 5.4 percent. The IT group had deliberately presented its figures for the fourth fiscal quarter on Tuesday. The strong cloud business with IT applications and storage space on the Internet brought the SAP rival further significant sales increases, which, however, could not meet the high expectations.
For Biontech (BioNTech (ADRs)) the depository receipts went down 6.9 percent. The analysis house Redburn has downgraded the corona vaccine manufacturer’s papers after their recent price jump to “Sell” and defined $ 146 as a fair level. Fundamentally, the rally up to well above the $ 200 mark can no longer be justified, it was said. It was also announced that the recently quite high vaccine deliveries to Germany are to be brought back to the agreed level in July.
The papers of US Steel (United States Steel) sagged after a negative study by JPMorgan analysts by 4.7 percent. In addition, the metal industry was generally upset on Wednesday by Chinese intervention. The Chinese government continues to take action against the current rise in raw material prices – with the sale of state reserves and an order that state-owned Chinese companies should reduce their dependence on foreign raw material markets./edh/he
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