NEW YORK (dpa-AFX) – After new price records in early trading on Wall Street, investors reaped price gains on Wednesday. The prospect of an imminent stimulus package worth billions for the weakened US economy could no longer persuade investors to buy. The leading index Dow Jones Industrial (Dow Jones 30 Industrial), which had reached a historical high of over 30,300 points at the beginning of trading, fell 0.35 percent to 30,068.81 points and was able to maintain the 30,000 mark. Tech giants Microsoft and Apple weighed on the Dow with losses of around two percent each.
The market-wide S&P 500 fell by 0.79 percent to 3672.82 meters. It had also hit another record high at the start of trading. The NASDAQ 100 came under the wheels with a minus of 2.15 percent to 12,364.64 points. It was the biggest daily loss in a month. However, investors can also expect high profits here: The index has risen by around 45 percent since the beginning of the year, leaving the Dow and S&P 500 far behind.
The US stock markets have had impressive weeks behind them: The Dow had risen by around 14 percent since the beginning of November, driven by positive news about corona vaccines, the victory of Democrat Joe Biden in the US presidential election and, last but not least, still one very loose Monetary policy the Fed. But now, with a view to the approaching end of the year, investors could “cash in” and realize profits.
The previous evening, US Treasury Secretary Steven Mnuchin had announced that he had offered the Democrats a corona aid package worth more than 900 billion US dollars. Meanwhile, the corona virus continues to spread rapidly in the United States.
A fireworks display burned the shares of the food delivery company DoorDash as they walked onto the trading floor. The papers went up to almost $ 200. The company had previously placed the 33 million shares at a price of 102 US dollars each with investors, raising almost 3.4 billion dollars (2.8 billion euros). At the end of the first day of trading, the shares were priced at just under $ 190.
The Biotech-Company Moderna has entered into a partnership with the Swiss pharmaceutical company Roche to fight viruses. Investors could not convince the cooperation, however, they took price gains with Moderna after the very strong run of the past few weeks. The stock lost almost eight percent.
Facebook shares temporarily lost up to four percent. The US government and 48 states are suing Facebook on allegations of unfair competition. The non-partisan alliance accuses Facebook of having built an illegal monopoly. In the end, Facebook closed almost two percent lower.
Against the weak trend, the shares of AT&T gained a good two percent. According to a media report, the telecommunications and media group is about to sell the satellite TV division DirecTV for more than $ 15 billion including debt.
The shares in FireEye got under the wheels, they sagged by 13 percent. The IT security company, which, among other things, US authorities often involve in cyber attacks, has now itself become the target of hackers.
The euro was a little weaker, most recently at $ 1.2082. The European Central Bank (ECB) had previously set the reference rate at 1.2109 (Tuesday: 1.2114) dollars, the dollar had thus cost 0.8258 (0.8255) euros. US Treasuries fell slightly. The futures contract for ten-year Treasuries (T-Note-Future) lost 0.09 percent to 137.63 points. The yield on the ten-year bond rose accordingly to 0.94 percent./bek/men
— By Benjamin Krieger, dpa-AFX —
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