Equities New York close: tech stocks in sell-off again | 01/13/22

The recent recovery in the US technology sector came to an untimely end on Thursday. The NASDAQ 100 lost 2.57 percent to 15,495.62 points. With that, his…

NEW YORK (dpa-AFX) – The recent recovery in the US technology sector came to an untimely end on Thursday. The NASDAQ 100 lost 2.57 percent to 15,495.62 points. His price gains since late Monday trading are gone again.

The biggest pressure on tech stocks is currently coming from the US Federal Reserve’s tightening monetary policy. Several members of the Fed spoke out in favor of a timely hike in the key interest rate on Thursday. This could happen as early as March. Market participants are now expecting up to four interest rate hikes this year alone. Shares in technology companies are sensitive to higher interest rates. For example, your already expensive investments will become even more expensive as a result.

The market-wide S&P 500, with its relatively high number of technology values, also lost a lot of feathers, losing 1.42 percent to 4659.03 points. The leading index Dow Jones Industrial (Dow Jones 30 Industrial) fared a little better, which closed the trade down 0.49 percent to 36,113.62 points and in which the tech stocks Microsoft, Salesforce and Apple were also behind with discounts of up to 4.2 percent.

On the bond market, the yield on ten-year government bonds fell to 1.695 percent, despite signs of imminent interest rate hikes. The futures contract for ten-year Treasuries (T-Note Future) rose by 0.19 percent to 128.83 points. Yields have been climbing since the beginning of the year, but are now stabilizing.

US economic data from the USA showed light and shadow on Thursday. Producer prices rose less than expected in December. The number of weekly initial jobless claims, on the other hand, rose while analysts had expected a decline on average.

Boeing (Boeing) continued its recent uptrend at the top of the Dow with a plus of three percent. According to insiders, the 737 Max aircraft is about to return to the Chinese market.

Delta Air Lines (Delta Air Lines) (Delta Air Lines), despite foreseeable losses as a result of the spread of the Omicron variant, intends to be profitable again from March and generate a “significant profit” in 2022. The papers gained 2.1 percent. American Airlines and United Airlines grew by up to four and a half percent.

Shares in private equity firm TPG (TPG A) started their first trading day at $33, above the $29.50 issue price. They went on sale at $34. The IPO had a total volume of one billion dollars.

The euro tied in with its previous day’s gains. After the US market closed, the common currency cost $ 1.1454. The European Central Bank (ECB) had set the reference rate at 1.1463 (Wednesday: 1.1370) dollars, the dollar thus cost 0.8724 (0.8795) euros./ajx/he

— By Achim Jüngling, dpa-AFX —

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