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Elon Musk complains that Tesla’s stock price is too high and the market responds quickly. Many other papers also fall. On the one hand, this has to do with profit taking, on the other hand, with Donald Trump’s recent statements about China.
Fear of an outbreak of the conflict between the United States and China ruined investors’ appetite for the shares on Friday. The main index Dow it lost 2.55 percent to 23,723.69 points. Additionally, quarterly heavyweight figures like Amazon, Chevron, and Exxon Mobil were not well received by investors. The Dow Jones Index suffered a small loss during the week.
United States President Donald Trump says he has evidence that the crown pandemic may have originated in a Chinese research laboratory. When asked by a journalist if he had seen information that would give him security in this regard, Trump said Thursday night: “Yes, I have.” The Bloomberg news agency, citing a person familiar with the matter, reported that Trump was considering banning a government pension fund from investing in Chinese stocks.
The breadth of the market S&P 500 decreased 2.81 percent to 2,830.71 points. The Nasdaq 100 lost 3.14 percent to 8,718.18 points. Analyst Edward Moya, of broker Oanda, also suspected that the gains were behind these losses, “especially for heavyweights like Apple and Amazon.”
“The mood of the stocks has returned to normal,” wrote CMC analyst David Madden, referring to Trump’s statement. With 30 million unemployed in the United States as a result of the crown crisis, the President of the United States is trying to blame China for the pandemic. A new trade dispute between the two countries can now threaten.
Investors react to Musk’s tweet
Amazon actions It fell 7.6 percent after climbing to a record the day before. The Corona crisis has given the online retailer a live stream of customers, but has also led to increased spending, for example due to a recruiting campaign due to the customer avalanche. The group now warned about special costs. Chevron’s shares decreased 2.8 percent. The US oil company is cutting back on investments in the wake of the crown crisis and falling oil prices. Industry colleague ExxonMobil’s share certificates even rose 7.2 percent. The drop in oil prices had caused the company to suffer a large loss in the first quarter.
Apple shares decreased 1.6 percent in quarterly terms. Analysts have confirmed that the iPhone maker has overcome the crown crisis well so far. However, the stock price had already risen by almost 40 percent from the low in mid-March. Actions of Tesla lost more than ten percent. Price pressure was sparked by a tweet from chief Elon Musk, for whom the share price seemed too high. From the March 18 low to just over $ 350 to the previous day’s high, nearly 150 percent soared.
At the end of the leading Dow index, the shares of the chemical company were found. Dow Inc with a loss of 7.5 percent again. Both Citigroup and Bank Credit Suisse had removed purchase recommendations for the shares. Credit card giant Visa had significantly increased profits and revenue in the last business quarter, but warned that the next few quarters could be difficult due to the crown pandemic. The share price decreased 1.8 percent.
In US bond market USA There was little movement, ten-year government bonds that marked a trend increased 4/32 points to 108 08/32 points. They paid 0.63 percent. The Euro It failed to maintain gains on the US dollar and was trading at $ 1.0977 at the close of Wall Street. The European Central Bank last set the benchmark rate at 1.0876 on Thursday. The dollar had cost 0.9195 euros.
