Home News New York shares end: Corona worries send US stock exchanges downhill

New York shares end: Corona worries send US stock exchanges downhill

by world today news

Ultimately, the Dow lost 2.29 percent to 27,685.38 points and thus recovered somewhat. The market-wide S&P 500 fell 1.86 percent to 3400.97 points. The Nasdaq Selection Index 100 fell 1.61 percent to 11,504.52 points.

At the end of last week, there was still the slightest hope that another corona aid package could be passed before the presidential elections in early November to support the economy. That confidence has now given way to disenchantment after House Speaker Nancy Pelosi and US Treasury Secretary Steven Mnuchin cut off talks. They now accused each other of “having changed the negotiating rules” in retrospect.

The Chinese government announced sanctions after the sale of new US weapons to Taiwan, which also weighed on sentiment on the stock market. “We will impose sanctions on US companies involved in arms sales,” said Zhao Lijian, a spokesman for the Beijing State Department. China has already pointed out several times that arms sales to Taiwan seriously undermine the one-China principle, he criticized.

In the Dow, the shares of the aircraft manufacturer and armaments company Boeing were among the biggest losers with minus 3.9 percent. In the S&P, Lockheed Martin lost 1.5 percent and Raytheon Technologies 2.8 percent.

Salesforce suffered with minus 3.4 percent from the truncated annual targets and medium-term targets of the German software group SAP.

Apple’s shares were the only ones in the Dow that closed in positive territory. They remained stable at 0.01 percent. The iPhone manufacturer will present its quarterly figures this Thursday. Analysts are optimistic. JPMorgan, for example, expects Apple to moderately exceed market expectations. In addition, the outlook has room for improvement, as data from the suppliers speak for higher production numbers of the new 5G-capable iPhones, according to a study by the US bank.

The papers of Otis Worldwide fell after better than expected numbers in the third quarter by 0.4 percent. It wasn’t until mid-October that they hit a record high at $ 66. The elevator manufacturer was floated on the stock exchange in the spring via a spin-off by United Technologies. The reason were conditions that the conglomerate had to meet for the takeover of Raytheon Technologies. United then renamed itself Raytheon Technologies.

In the Nasdaq selection index 100, the shares of the toy manufacturer Hasbro were at the bottom with minus 9.4 percent. The market complained that the quarterly report presented was not as strong as the one recently presented by the competitor and Barbie manufacturer Mattel.

The euro moved only moderately in US trade. At the close of trading on Wall Street, the common currency was priced at $ 1.1808. The European Central Bank set the reference rate in Frankfurt at 1.1819 (Friday: 1.1856) dollars. The dollar cost 0.8461 (0.8435) euros. On the US bond market, the futures contract for ten-year Treasuries (T-Note Future) rose 0.26 percent to 138.66 points. The return fell at the same time to 0.803 percent./ck/he

— By Claudia Müller, dpa-AFX —


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