Home » News » Wall Street in red over New York school closings

Wall Street in red over New York school closings

The Wall Street stock indices closed lower again, erasing the gains of the first tranche of the wheel, due to the concerns of traders about the rapid spread of the second wave of the coronavirus in the countries of the northern hemisphere.

The Dow Jones industrial index lost 1.2 percent, as did the expanded S&P 500, while the Nasdaq technology fell 0.8 percent, according to data provided by the Bloomberg agency.

Major indices were down in afternoon trading and losses accelerated after New York City said it would close its public schools to in-person learning again, as infections continue to rise there.

Despite losing initial gains, stocks remain near their all-time highs.

But the advances in the vaccine did not overcome the spread of the pandemic, with the United States at the forefront of infections worldwide, with 11.3 million affected and almost a quarter of a million deaths, according to John University. Hopkins.

EL BOEING 737 MAX

The aeronautical giant Boeing was at the center of attraction for operators after the Federal Aviation Agency (FAA) gave the go-ahead for the 737 Max model, which had to be grounded due to two accidents attributed to its design, fly with passengers again.

Despite this good news, Boeing ended up losing 3.3 percent, the worst-performing stock among the Dow Jones’ 30 majors.

It was followed by Chevron -3.2 percent, Walgreens -3 percent and UnitedHealth -2.2 percent, while in the positive territory the chemical Dow 1.5 percent, Caterpillar 0.5 percent and Salesforce 0 stood out. , 4 percent.

All sectors of the S&P 500 closed in the red and the biggest losses were for energy companies (-2.9 percent), electricity (-1.9 percent) and health (-1.8 percent).

Optimism about the outlook for the economy also makes investors less enthusiastic about the addition of the companies that dominated the economy during the pandemic, such as big tech where Apple fell 0.2 percent and Amazon fell 0.6 percent.

Because these companies are so gigantic in size, their stock movements have a huge effect on the S&P 500 and other indices.

In Europe, a different climate was experienced with slight rises in all bags due to the progress in the development of vaccines against COVID-19. The Euro Stoxx 50 Index gained 0.4% and the London FTSE advanced 0.3%.

– .

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.