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Stocks on the New York Stock Exchange fall today, on the first trading day of 2021, after a volatile year, but highly profitable for investors.
The Dow Jones Industrial Average was trading 619 points lower, or 2%. The S&P 500 is down 1.9% and the Nasdaq Composite is down 1.8%. Both the Dow and the S&P 500 hit record highs at the open.
American Express and Disney were the worst-performing Dow components, falling 3.3% and 3%, respectively. The real estate sector fell 3% to drive the S&P 500 lower.
Wall Street watches Georgia as the state prepares for the Senate runoff Tuesday, which could give Democrats a majority in the House.
Monday’s drop also came as traders became concerned about the growing number of coronavirus cases around the world.
Data compiled by Johns Hopkins University showed that more than 20 million Covid-19 infections have been confirmed in the US.
Several cases of a new strain of coronavirus have also been confirmed across the country. In the world, more than 85 million cases have been confirmed. In the UK, the BBC reported that the country would impose Level 4 restrictions across the country.
Also in Germany and Colombia new restriction measures will be applied due to the increase in cases.
The 30-share Dow ended last year up 7.3%, and the S&P 500 was up 16.3% in that time.
At one point in 2020, both market benchmarks were down more than 30% as the coronavirus pandemic devastated the global economy.
The highlight of 2020 was the Nasdaq Composite, which was up 43.6% for its biggest gain in a year since 2009. The Nasdaq’s outperformance came as investors and traders flocked to tech stocks amid the outbreak. of Covid-19.
Unprecedented fiscal and monetary support for the economy, coupled with the development and launch of multiple Covid-19 vaccines, helped the market rebound from its massive slide to return to trading at record highs.
The launch of several Covid-19 vaccines in the US has recently slowed due to supply limitations.
Moderna’s shares rose 8.1%.
Shares of Tesla rose 3.9% Monday, hitting an all-time high, after the electric carmaker said Saturday that it delivered 180,570 electric vehicles last quarter, beating expectations.
Colombia
Feeling the negative economic effect of the new mobility restrictions, the Colombian Stock Exchange is trading negative today, with Promigas and El Cóndor shares showing the greatest variations in red.
On the contrary, the prices of Celsia and Cemex Latam Holdings (CLH) securities rose.
(With information from Cnbc and E-bvc)
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