NEW YORK (dpa-AFX) – The recovery of the US stock markets from the previous day did not continue on Friday due to weak economic data. The Dow Jones Industrial was last listed 0.25 percent lower at 23 567.15 points. This indicates a weekly loss of around 3 percent for the US benchmark index. The market-wide S&P 500 lost 0.24 percent on Friday to 2845.59 meters. The technology-heavy Nasdaq 100 lost 0.34 percent to 9063.92 points.
In the past few days, disillusionment had returned to the markets. While economic and social easing is advancing around the world, investors are concerned about the pace of economic recovery. In addition, the trade dispute between the USA and China threatens to boil up again.
Meanwhile, new data from the US retail sector revealed a record drop in sales in April due to the Corona crisis. In addition, industrial production slumped 11.2 percent in April compared to the previous month. That was the sharpest decline since the survey began 101 years ago. However, analysts had expected an even greater minus of 12.0 percent on average.
From a company perspective, the news situation on Friday was few and far between. Abbott Laboratories papers fell 2.4 percent. The medical technology and pharmaceutical company launched a rapid corona test with emergency approval in March, but it is now under criticism. The FDA raised doubts about the reliability of negative test results, citing several studies./edh/he
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