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Wall Street, the New York Stock Exchange, the world’s largest by market value of publicly traded companies, saw sharp declines shortly after Thursday’s trading session, a decline largely driven by technology actions in context. in which the upturn so far in these issuers makes investors profit.
Thus, at 6:00 p.m. (Romanian time), the US stock market registered a decline of 3.4% in terms of the S&P 500 index and of almost 5% in terms of Nasdaq, according to data added by ZF. The Dow Jones is down 2.6%, according to Marketwatch.
“The number of Americans filing for unemployment benefits fell to 881,000 from a million the previous week. Meanwhile, the S&P 500 and Nasdaq are trading lower as the rally in tech companies weakens. Shares in Apple Inc, Adobe Inc, Nvidia Corp and Netflix, which increased more than 70% this year, decreased between 1.4% and 2.3% in pre-market operations ”, a report by XTB Romania shows .
With tech stock sales accelerating as a result of rising prices since the beginning of the year, for example 70% for Apple, which is now down 7%, the impact is also being felt in the major US stock indices. Other stocks with consistent rallies in 2020 depreciate Thursday, such as 8% for Tesla, 5% for Amazon, 12% for Zoom.
“Tesla Shares (TSLA.US) took a hit after its largest shareholder, Baillie Gifford, reduced its stake from 6.32% to less than 5%. The investment company explained that it took the action due to portfolio restrictions. after the recent rally in Tesla shares increased the overall percentage of the company’s holdings. “
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