Börse Express – ROUNDUP/Aktien New York Conclusion: sell-off in the tech segment

NEW YORK (dpa-AFX) – A sell-off in technology stocks has clouded the mood on the US stock exchanges even further. Standard values ​​also had to lose their feathers on Monday. According to traders, fears that the fight against inflation and China’s strict measures to contain the corona pandemic will weigh on economic growth caused pressure.

The leading US index Dow Jones Industrial fell 1.99 percent to 32,245.70 points, moving at the level of March last year. For the market-wide S&P 500
it went down 3.20 percent to 3991.24 points. The tech-heavy Nasdaq 100 Plunged 3.98 percent to 12,187.72 points after hitting its lowest level since November 2020 shortly before the close.

A wave of risk aversion swept global markets after Friday’s US jobs data left little room for a more dovish monetary policy stance by the US Federal Reserve, sources said, citing the threat of further rate hikes. The short-term outlook for equities “is still chaotic and there could be more downside as markets worry about a significant economic slowdown or ‘hard landing’ and aggressive rate hikes,” commented economist Diana Mousina of asset manager AMP Investments.

Comments by Chinese Prime Minister Li Keqiang over the weekend are also likely to have weighed on market sentiment. The politician had warned that the country’s employment situation had “seriously” deteriorated because of the massive Covid restrictions.

Among individual stocks, the recent downtrend in Boeing shares has intensified although the Lufthansa
strengthens its long-haul routes with new aircraft from the US manufacturer. Boeing shareholders had to cope with a minus of more than ten percent, so the papers were the bottom of the Dow.

Biontech’s New York listed depository receipts
but rose by a good three percent. The corona vaccine manufacturer again significantly increased sales and profits in the first quarter.

The Philip Morris International papers also provided a small ray of hope and increased by around one percent. The tobacco company is in the process of acquiring smaller European competitor Swedish Match Interested.

Coty’s shares on the other hand, in the gloomy environment, initial profits fell and finally fell by more than seven percent. The cosmetics group had increased its annual target for adjusted earnings per share.

The papers of the electric car start-up Rivian, which was once hyped on the stock exchange slipped to a record low and ended up falling by almost 21 percent. According to a report, the carmaker Ford part of its Rivian shares after the standstill period of the existing shareholders after the IPO in November expired on Sunday.

The Euro last traded at $1.0560. The European Central Bank (ECB) set the reference rate at 1.0559 (Friday: 1.0570) dollars. The dollar thus cost 0.9471 (0.9461) euros. On the bond market, the futures contract for ten-year Treasuries (T-Note Future) rose by 0.58 percent to 118.48 points in view of the significant losses on the US stock exchanges. The yield on ten-year government bonds fell to 3 percent./la/men

— By Lutz Alexander, dpa-AFX —

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0407 2022-05-09/22:47

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