NEW YORK (dpa-AFX) – Concerns about rising new infections and dwindling hopes for further corona economic aid before the US presidential elections have put a heavy burden on the Dow Jones Industrial (Dow Jones 30 Industrial) at the start of the week. After a weak start, which pushed the world’s best-known stock market barometer below the mark of 28,000 points, there was an even steeper decline over the course of the year. Around two hours before the close of trading, the Dow fell 2.95 percent to 27,499.94 points, its lowest level since the beginning of October.
The market-wide S&P 500 fell by 2.49 percent to 3379.27 points, and the initially quite stable, technology-heavy selection index NASDAQ 100 was ultimately hit by the strong downward pull. He recently lost 2.41 percent to 11,411.88 points.
At the end of last week, there was still the slightest hope that another corona aid package to support the economy could be passed before the presidential elections in early November. That confidence has now given way to disillusionment after House Speaker Nancy Pelosi and US Treasury Secretary Steven Mnuchin cut off their talks. They accused each other of “having changed the negotiating rules” afterwards.
The Chinese government announced sanctions after the sale of new US weapons to Taiwan, which also weighed on sentiment on the stock market. “We will impose sanctions on US companies involved in arms sales,” said Zhao Lijian, a spokesman for the Beijing State Department. China has already pointed out several times that arms sales to Taiwan seriously undermine the one-China principle, he criticized.
In the Dow, the shares of the aircraft manufacturer and armaments company Boeing were among the biggest losers with minus 4.4 percent. In the S&P, Lockheed Martin fell 2.6 percent and Raytheon Technologies fell 3.5 percent.
Salesforce (Salesforce) suffered from the bottom of the Dow with minus 4.6 percent from the truncated annual targets and medium-term targets of the German software group SAP (SAP SE).
The shares of Apple, which had initially increased, could no longer escape the increasing clouding of sentiment. They lost 1.1 percent. The iPhone manufacturer will present its quarterly figures this Thursday. Analysts are optimistic. JPMorgan, for example, expects Apple to moderately exceed market expectations. In addition, the outlook has room for improvement, as data from the suppliers speak for higher production figures for the new 5G-capable iPhones, according to a recent study by the US bank.
Otis Worldwide stocks, however, rebounded somewhat from their early losses. After the figures for the third quarter were better than expected, they initially lost more than 2 percent, and in the end it was only 0.5 percent. It wasn’t until mid-October, however, that they had hit a record high at $ 66. The elevator manufacturer was floated on the stock exchange in the spring via a spin-off by United Technologies. The reason were conditions that the conglomerate had to meet for the takeover of Raytheon Technologies. United then renamed itself Raytheon Technologies.
In the Nasdaq selection index 100, the shares of the toy manufacturer Hasbro were at the bottom with minus 10 percent. The market complained that the quarterly report presented was not as strong as the one recently presented by the competitor and Barbie manufacturer Mattel./ck/fba
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