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After the best month in decades, Wall Street started May off on the wrong foot, with major stock indices marking losses of around 3% due to the results of Amazon, Apple, Exxon Mobil and other companies, and also to statements by the President. of the United States on tariffs on Chinese products.
The Dow Jones industrial index closed with a fall of 2.56% to 23,723.69 points and the technological Nasdaq sank 3.2% to 8,604.9 points. The S & P500 depreciated 2.8%.
This fall comes after yesterday, the main indices soared in April. The Dow soared 11.1% and the S&P 500 rose 12.7%, which were the best monthly gains since January 1987, that is, in more than 33 years. Nasdaq gained 15.4% in April, its best monthly performance in 20 years, since June 2000.
Sentiment was reversed in early May mainly due to cautionary messages sent yesterday by tech giants Apple and Amazon about how the new coronavirus pandemic will affect their businesses.
Amazon sank 7.6% to $ 2,386.04 after revealing that it posted profits of $ 2,535 million (2,314 million euros) in the first quarter of the fiscal year, 29% less than in the same period last year.
Apple lost 1.61% to $ 291,042, after revealing yesterday that it closed its second fiscal quarter with earnings of $ 11.24 billion, or $ 2.55 per share, above the $ 2.26 average predicted by the market consensus.
Exxon Mobil sank 7.17% to $ 43.14 after announcing the first losses in the past 32 years.
Tesla also recorded a day of sharp declines, reacting negatively to tweets from the company’s CEO. Elon Musk wrote that the company’s shares are “very high,” causing the electric car maker’s shares to sink 10.3% to $ 701.32.
Negative sentiment in the markets worsened after Trump threatened to resume the tariff war with China, at a time when the world economy is virtually paralyzed.
In response to a question about whether he planned to cancel part of his debt obligations to the Chinese government, the US president said: “We can do this with tariffs or in other ways.”
Donald Trump said China could have contained covid-19, but allowed the disease to spread, claiming he saw evidence that the virus was created in a laboratory in Wuhan, a city in central China where the new one was eventually detected. coronavirus. December
“They [a China] They are a brilliant nation, scientifically and in other ways. They could have saved or stopped it [o surto do novo coronavírus]but they didn’t, “Trump said at a press conference.
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