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◆ … Dow Jones 30 Average trend of the industry during the last three months. Source = Future Asset Daewoo
The three indices of the US Stock Exchange in New York all fell at once due to concerns about the reproliferation of Corona 19. The spread of Corona 19 in the United States has sharpened and expectations for the conclusion of an economic stimulus package before the presidential elections have waned, which has deteriorated investor sentiment.
On the 26th (local time), the Dow Jones 30 Industrial Average on the New York Stock Exchange closed at 27.7685.38, a sharp drop of 650.19 points (2.29%) from the battlefield.
The Standard & Poor’s (S&P) 500 Index closed at 3,400.97, 64.42 points (1.86%) less than on the battlefield. The Nasdaq index, which focuses on technology stocks, fell 189.34 points (1.64%) to close at 11,358.94.
The Dow index dramatically widened the decline after opening the market at 28,185.82, 0.53% less than the closing price of the previous day. It slipped to the 27,300 line, which fell 3.41% for the week. The Dow index has suffered the biggest drop in a day since early September.
By shares, American Express (-4.06%), Travelers Company (-3.52%), Walt Disney (-3.34%), Intel (-3.07%) and Honeywell International (-3.06% ) fell by more than 3%. Led the decline. Only Apple was up 0.01%.
The situation showed no signs of improvement, as the number of confirmed corona19 patients surpassed 80,000 on Friday in the United States, and market investment sentiment significantly worsened. As of Sunday, the average number of new confirmed coronavirus cases per week increased more than 20% from the previous week to an all-time high.
White House Secretary Mark Meados inspired market anxiety by stating that “they will not be able to control the pandemic.”
The drop in expectations for the conclusion of the stimulus measures before the US presidential elections is also pointed out as the reason for the drop in the index. Democratic House Speaker Nancy Pelosi and Secretary General Meadows fought a battle over the weekend in a media interview saying it was each other’s responsibility that stimulus negotiations stalled.
The re-emergence of the conflict between the United States and China was also a bad thing.
In a regular briefing, a spokesman for the Chinese Foreign Ministry, Zaorizen, said that three US defense companies, including Lockheed Martin, Boeing and Raytheon, would face sanctions. This is to retaliate against the United States for promoting arms sales to Taiwan.
European stocks, which closed earlier, also fell sharply.
The London Stock Exchange’s FTSE 100 index closed at 5,792.01, 1.16% lower than the closing price on the previous trading day. The DAX 30 index of the Frankfurt Stock Exchange also closed at 12,177.18, a decrease of 3.71%.
France’s Paris CAC 40 index fell 1.90% to 4816.12, while the pan-European Euro Stoxx 50 index fell 2.93% to 3105.25.
