ROUNDUP / New York Stocks: Losses – Tech stocks lag again

NEW YORK (dpa-AFX) – Investors on the US stock exchanges will mourn on Tuesday. Technology stocks in particular came under pressure again: the Nasdaq 100 selection index recently lost 2.19 percent to 13,497.42 points, accelerating the latest downward trend. In contrast to the mixed start of the week, this time the standard values ​​also hit: The leading index Dow Jones Industrial lost 0.65 percent to 33,890.54 points. The market-wide S&P 500 was down 1.10 percent to 4,146.63 meters.

The debate about a possible turnaround in the interest rate markets is putting pressure on technology stocks in particular, said market expert Andreas Lipkow from Comdirect. After the excessive flood of liquidity by the central banks, there are now calls for an end to this flooding. In addition, the US indices continued to trade near their new record highs.

The US Federal Reserve had recently promised again and again that it would not consider tightening its monetary policy yet. The rising prices for raw materials, for example, could make the monetary authorities more and more difficult to explain. At the beginning of the week, star investor Warren Buffett caused a stir with warnings of rising prices. Now Jamie Dimon, the head of the banking giant JPMorgan, followed suit: In view of the trillion dollar economic stimulus programs of the US government, he believes a return of inflation is possible.

On the company side, the focus was once again on business figures. Pfizer raised its annual targets significantly after a surprisingly strong first quarter. The pharmaceutical company had clearly benefited from the corona vaccine developed jointly with the German company Biontech, but also increased other products, for example against cancer. Pfizer shares rose 0.6 percent against the market.

Biontech, however, was unable to benefit from the fact that Pfizer also specifically increased the sales target for the joint vaccine: The deposit receipts of the Mainz biotech company, which were still strong the day before, sagged by around 15 percent, paying tribute to their record hunt. The price development of the competitors Moderna and Curevac, which Biontech had pulled up the day before, did not look quite as weak.

The shares of the sporting goods manufacturer Under Armor also took off after their recent soaring: regardless of the good start to the year and the raised outlook, they fell by 2.8 percent. Investors’ relief from a relatively small fine, which the Securities and Exchange Commission had ordered the company to pay for violating securities laws and misleading investors, was limited.

Dupont shares were cheaper by over two percent despite the good first quarter and more optimistic annual targets of the chemical company. In contrast, the shares of the pharmaceutical retailer CVS Health rose by 2.7 percent by numbers and marked their highest level since the end of 2018. They benefited from the fact that both the quarterly profit and the profit outlook surprised positively. / Gl / he

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