The technology stock exchange Nasdaq has plunged by ten percent in just the last three days, but after about a week of continuous decline, the US stock exchanges opened up on Wednesday.
A few hours into the trade, the small comeback continues.
- Industrial-heavy Dow Jones rises around 1.9 percent.
- Technology-heavy Nasdaq rises around 2.8 percent.
- The S&P 500 collective index rises around 2.25 per cent.
Tesla rises around 5.2 percent on Wednesday. It comes after a fall of 21 percent on Tuesday, which ended up being the worst trading day for the electric car manufacturer ever, according to CNBC. As is well known, the company was not listed on the broad S&P 500 index, which investors obviously reacted negatively to.
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Apple, Amazon and Microsoft all rose around four percent on Wednesday. However, all companies have fallen between five and 14 percent in the last five days.
Uglamorous court settlement
Goldsmith chain Tiffany & Co. plunged over ten percent from the start after the French luxury goods company LVMH has definitively canceled the planned acquisition, and it is now heading towards an unglamorous settlement at various law firms in New York and Paris, and in the judiciary.
A few hours into trading, the stock has risen slightly, but it is still down around 8.5 percent.
The pharmaceutical company AstraZeneca is also in the spotlight of investors, after disappointing test results on the development of a coronary vaccine, and the share was down just over two percent after a few minutes of trading. At 6.30 pm, the decline has reversed, and the share is now rising around 0.5 per cent.
Yesterday’s stock market winner Nikola, who rose 40 percent on Tuesday after an agreement with General Motors, corrects down around ten percent. The Norwegian hydrogen company Nel has a large stake in Nikola Motors, which makes electric cars and trailers.(Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases using a link, which leads directly to our pages. Copying or other form of use of all or part of the content, can only take place with written permission or as permitted by law. For additional terms look here.
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