indices in this article
At the start of trading, the NASDAQ Composite was down 0.21 percent to 9,392.99 points. However, the trend did not last long. In the further course, the tech values pushed themselves clearly onto green terrain. However, the tech stocks index was also unable to maintain its interim gains, but ended the day 0.46 percent lower at 9,368.99 points.
Fears of a further worsening of the conflict between the United States and China slowed the recent rally.
The US government had withdrawn its special status under US law from the Chinese Hong Kong Special Administrative Region on Wednesday, thereby responding to a security law planned in Beijing, which critics believe should massively intervene in the rights of autonomy. China sharply condemned the decision.
“This is just another potential concern alongside the coronavirus pandemic,” said market strategist Brian O’Reilly from asset manager Mediolanum. “Whether we are actually getting into a trade war 2.0 – I believe that even in a second Trump term, they would be reluctant to take this route,” the participant continued.
In addition, investors reacted coldly as the US president announced in late US trade that he would hold a press conference on the subject of China for the following day.
There was also no good news from the economy: For example, the US economy shrank slightly more in the first quarter than analysts expected due to the corona crisis. Orders for durable goods also collapsed again in April.
Editorial office finanzen.net / Dow Jones Newswires / dpa-AFX
Image sources: Frontpage / Shutterstock.com, spirit of america / Shutterstock.com
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