NEW YORK (dpa-AFX) – The most important US standard value indices Dow Jones Industrial (Dow Jones 30 Industrial) and S&P 500 continued to slide on Wednesday. The Dow also fell below the 27,000 mark. The technology-heavy Nasdaq stock exchanges, which had risen in a countermovement on Tuesday, were also caught in the downward pull.
The worsening corona crisis is causing growing fears among investors. There could be no question of panic, but the nervousness is increasing significantly, said analyst Milan Cutkovic from trading house Axi about the downturns in the markets in Europe and the USA. According to BayernLB’s chief economist Jürgen Michels, there is still uncertainty about the approaching US elections. A game in the elections is seen as a further risk.
The Dow ultimately fell by 3.43 percent to 26,519.95 points, closing just above its recently reached low for the day. Since Friday, the US stock market barometer has now lost a total of 6.5 percent. The market-wide S&P 500 lost 3.53 percent to 3271.03 points in the middle of the week. It was his biggest daily loss since June. The NASDAQ 100 fell 3.93 percent to 11,142.76 points.
The company received mixed news on Wednesday. Microsoft’s stock lost 5.0 percent as the weakest value in the Dow. The software company reported a jump in profit in its first quarter of business, but there were critical voices about the outlook. Bernstein analyst Mark Moerdler said that it was “cautious”. Investors apparently had hoped for a little more.
The aircraft manufacturer Boeing remained badly affected by the virus crisis and the problem plane 737 Max. However, it was not as deep in the red in the third quarter as feared. The papers gave way by 4.6 percent. The shares of the credit card provider Visa, which reported on its business in the past quarter after the stock market closed, plummeted 4.8 percent.
One candidate with clearly positive investor feedback was General Electric with a price jump of 4.5 percent. On a reported basis, there was another billion-dollar loss in the third quarter, but with its adjusted earnings per share, the conglomerate surprisingly made it into the black. There was also positive market opinion on the inflow of funds.
UPS (United Parcel Service) lost 8.8 percent, although the logistics group, as the winner of the Corona crisis, continued to benefit from the parcel boom in the third quarter. However, the stock only climbed to a record high a week ago. Therefore it was now called “Sell on good news”.
The euro has recently recovered slightly and was trading at $ 1.1750 at close of the Wall Street market. The European Central Bank set the reference rate in Frankfurt at 1.1727 (Tuesday: 1.1832) dollars. The dollar cost 0.8527 (0.8452) euros. On the US bond market, the futures contract for ten-year Treasuries (T-Note Future) fell by 0.02 percent to 138.85 points. At the same time, the yield rose to 0.773 percent./ck/he
— By Claudia Müller, dpa-AFX —
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