NEW YORK (dpa-AFX) – The price slide on the stock exchanges is likely to continue on the New York Stock Exchange on Wednesday. The worsening corona crisis continues to cause major fears among investors in the middle of the week, especially because of looming lockdowns in Europe. The broker IG estimated the Dow Jones Industrial an hour before the start 1.7 percent lower to 26,984 points. The leading Eurozone index EuroStoxx even lost more than three percent recently.
In the fight against the second wave of the pandemic, for example, the French government wants to tighten its measures. Analyst Milan Cutkovic from trading house Axi said the market has begun to incorporate further lockdowns – whether partially or completely – into the courses. There was still no question of panic on the trading floor, but the nervousness was clearly increasing. In Germany, too, there is talk of a tougher course in the fight against the virus.
According to the experts at Societe Generale, investors’ risk aversion continues under these circumstances. The USA has also been gripped by the renewed wave of infections for some time. According to Jürgen Michels, chief economist at BayernLB, there is still uncertainty in the markets about the approaching US elections. Experts see a stuck game in the election result as a further significant risk.
From the corporate side came mixed news on Wednesday. The Microsoft share could not escape the market weakness before the market with a discount of 2.6 percent, even if the software company posted a profit jump in its first quarter of the fiscal year. There were critical voices about the outlook, which, according to Bernstein expert Mark Moerdler, was only cautious. Investors had obviously hoped for a little more here, according to the expert.
The aircraft manufacturer Boeing, meanwhile, remains badly affected by the virus crisis and the problem plane 737 Max. However, in the third quarter it was not as deeply in the red as feared, which was taken into account by investors to mitigate. With a comparatively moderate minus of 0.8 percent, the shares were able to escape the market-wide selling pressure to some extent.
A candidate with clearly positive investor feedback was General Electric, with a pre-IPO increase of 5.4 percent. On a reported basis, there was another billion-dollar loss in the third quarter, but surprisingly, with its adjusted earnings per share, the conglomerate just barely made it into the black. There was also positive market opinion on the inflow of funds.
Otherwise, an obvious winner of the corona crisis also reported with UPS. The logistics group continued to benefit from the package boom in the third quarter, but this did not help stocks rise. At times it looked like an increase, but most recently the shares slipped into the red with about two percent before the trading day ./tih/jha/
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