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NEW YORK (dpa-AFX) – In the wake of massive losses in technology stocks, the US stock markets lost ground on Monday. Rising commodity prices would have given rise to concerns that inflation could bring growth to a standstill in the world’s largest economy and undo the recent record rally on the stock markets, it said from the trade.
The Dow Jones Industrial (Dow Jones 30 Industrial) climbed above the highly regarded 35,000 point mark for the first time in early trading and reached a record high for the fourth trading day in a row, but soon fell again. In the late course of trading, the downward trend accelerated and left the US benchmark index 0.10 percent in the red to close at 34,742.82 points. The market-wide S&P 500 lost 1.04 percent to 4188.43 counters. The technology-heavy NASDAQ 100 fell by 2.63 percent to 13,359.08 points and ended with its lowest level since the beginning of April.
The biggest losers among the tech stocks were QUALCOMM with minus 6.5 percent, Tesla with minus 6.4 percent, Facebook with minus 4.1 percent, Twitter with minus 3.7 percent and Amazon with minus 3.1 percent. Apple papers (Apple) fell 2.6 percent.
Otherwise, the depository receipts from Biontech (BioNTech (ADRs)) were once again the focus of investors. After a significant setback in the previous week, the corona vaccine manufacturer’s papers benefited from some positive news and climbed more than 10 percent. The European Union (EU) is buying up to 1.8 billion more doses of corona vaccine from Biontech or its cooperation partner Pfizer.
In the first quarter of this year, the Mainz biotech company achieved a net profit of 1.1 billion euros. Compared to the fourth quarter of 2020 (366.9 million), this is tripling. In the first quarter of 2020, Biontech had to accept a net loss of 53 million euros. Sales reached 2.05 billion euros, more than 70 times as much as in the corresponding period of 2020 (27.7 million).
For the shares of Marriott it was down 4.1 percent. The adjusted earnings per share of the hotel giant did not plummet as much as feared in the first quarter. But sales were disappointing.
The euro was unable to maintain its profit from European trading in the US business and was most recently quoted at 1.2136 US dollars. In Europe, the euro had risen to $ 1.2178, its highest level since late February. The European Central Bank had set the reference rate at 1.2169 (Friday: 1.2059) dollars. The dollar had thus cost 0.8218 (0.8293) euros.
US Treasury bond prices fell somewhat. The futures contract for ten-year Treasuries (T-Note-Future) fell by 0.10 percent to 132.60 points. The yield on ten-year bonds was 1.60 percent./edh/he
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