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The major US stock exchanges. USA On Wall Street they opened all Monday afternoon, but they made a change overnight:
- The broad aggregate S&P 500 index has risen 0.42 percent.
- Heavy industrial Dow Jones is up 0.11 percent.
- The Nasdaq Technology Index is up 1.23 percent.
Difficult for China
The President of the United States, Donald Trump, has criticized China in recent days for managing the coronavirus outbreak in the country. Before the weekend, he claimed to have seen evidence that the virus originated from a laboratory in Wuhan.
It also threatened to impose criminal charges against China, creating market fears of an escalation of the trade war that has been going on for the past two years.
On Sunday, Trump followed up on accusations that China accidentally released the virus and then tried to hide it. He did not present any evidence of the allegations, according to CNBC.
US intelligence said Thursday that the virus is not man-made, but is investigating whether it was released by mistake. The rise in the stock market on Wall Street comes after sharp falls in the stock market on Asian stock exchanges overnight to Monday.
Airlines are sinking
On Saturday night, financial guru Warren Buffett’s statements about the coronavirus at the Berkshire Hathaway general meeting were very much in tune. He said, among other things, that the company has sold all aviation shares due to the virus outbreak.
Delta, United Airlines, American Airlines and Southwest Airlines drop more than nine percent, and are the biggest losers at Dow Jones, writes CNBC. Aircraft maker Boeing falls four percent.
Conglomerate General Electric announced Monday that it will cut some 13,000 jobs in the aviation segment as a result of lost revenue during the crown crisis, the Wall Street newspaper writes.
This equates to approximately 25 percent of employees worldwide.
General Electric’s aviation segment, among other things, makes engines for aircraft manufacturers Boeing and Airbus, which are badly affected by the crown pandemic.
Cruise stocks rose
Monday, however, was a good day for cruise bookings.
The three heavyweights Carnival Coorporation, Norwegian Cruise Lines and Royal Caribbean Cruises, all of which are listed on the New York Stock Exchange, started the day abruptly but recovered, ending the day at 2.98 percent 4.26 percent and 1, respectively . 47 percent. (Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We want you to share our cases using a link, which links directly to our pages. Copying or any other use of all or part of the content may only be made with written permission or as permitted by law. For more terms see here.
