Wall Street rallied a bit after a rough day – E24

All three major indices were pointing lower since the start of Monday. The decline was driven, among other things, by large falls in European stock markets.

During the afternoon Norwegian time, the three major indices rallied a bit, and by the end of the trading day it looked like this on Wall Street:

• Dow Jones down 1.85 percent
• Nasdaq Composite down 0.13 percent
• S&P 500 down 1.16 percent

This is the first time the S&P 500 has fallen four days in a row since February, according to CNBC.

At 10 p.m., a barrel of North Sea oil (burned) is trading at $ 41.74, down 3.07 percent on the day. A barrel of US light oil is trading at $ 39.62.

The Wall Street crash came as a result of a possible deterioration of the effects of the crown crisis, in addition to uncertainty about crisis packages from the US authorities, writes CNBC.

Nikola-fall

In a press release on Monday, it was announced that Nikola founder Trevor Milton will step down from his position as acting president of the company.

The exit comes after a turbulent moment for the company on the stock market, which has fallen nearly 30 percent since Hindenburg Research made harsh accusations against the company in a report published two weeks ago.

Here, Hindenburg contends that Nikola is an “intricate scam” and claims that Trevor Milton has made “dozens of false statements.”

Nikola, for his part, has rejected the allegations and expanded his responses to the report last week.

Nikola has also stated that they have contacted the U.S. Securities and Exchange Commission (SEC) to counter Hindenburg’s claims, and that they have hired the law firm Kirkland & Ellis LLC to help.

At the close, Nikola’s stock had fallen just under 20 percent.

Bank loot

A FinCent Files document leak also affects US bank stocks.

The leak includes more than 2,100 suspicious transaction reports that US banks have sent to their authorities.

Shares of JPMorgan and Goldman Sachs are down 4.15 percent and 3.24 percent, respectively, at the open of the stock market.

There is also a sharp drop among tech stocks on Monday.

Apple is down 0.52 percent, while Amazon, Alphabet and Microsoft are down more than 1 percent. Facebook falls 2.43 percent.

Electric carmaker Tesla has recently seen a rally in the US stock market despite falling tech stocks. The company saw a rally at the opening of the stock market on Monday, but it has been in the red throughout the day.

At the time of writing this report, the company is down almost 1 percent.

The Dow Jones is heading towards Wall Street

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