Business Wall Street ends down, profit taking and renewed caution

Wall Street ends down, profit taking and renewed caution

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NEW YORK STOCK EXCHANGES

(Reuters) – The New York Stock Exchange ended lower Tuesday, caught by profit taking after its recent gains and a renewed caution in the face of the deteriorating health situation in the United States.

More and more US states are reporting a record increase in new cases, with Florida even warning of running out of available beds in hospital intensive care units.

The Dow Jones index lost 1.51%, or 396.85 points, to 25,890.18 points.

The broader S & P-500 lost 34.4 points, down 1.08% to 3,145.32 points, after lining up five straight sessions of gains.

The Nasdaq Composite fell by 89.76 points (-0.86%) to 10,343.89 points after signing in session a new record at 10,518.98 points.

“I just see it as a day when investors are digesting yesterday’s nice hike and last week’s growth,” said Sam Stovall, head of investment strategy at CFRA Research in New York.

In values, Novavax climbed 31.62%, while the US federal administration granted the pharmaceutical group a credit of 1.6 billion dollars (1.4 billion euros) as part of the program to combat the new coronavirus.

Walmart won 6.78% after press reports that the retail giant is about to launch its affiliate program, a direct competitor to the e-commerce giant’s Amazon Prime service. Amazon shares lost 1.86%.

(Caroline Valetkevitch, Blandine Hénault for the French version)

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