A minute after trading took off on the New York stock exchange, the Nasdaq index has fallen 0.8 percent and stands at 13,876.68 points, while the Dow Jones falls 0.5 percent to 35,286.84 points. The S&P 500 fell 0.6 percent to 4,492.44 points.
The ten-year US government bond yield is at 4.02 per cent, while the VIX index, also called the fear index, rises 8.1 per cent to 17.04.
– The autumn storms on the stock exchange always come, and there is no doubt that earnings expectations have not been lowered very much. The companies that do not deliver are punished insanely. There is no doubt about that, says manager Jan Petter Sissener to Finansavisen.
Moody’s has cut the credit rating of several small to medium-sized US banks, and is now considering whether to downgrade some of the country’s largest lenders, according to Reuters. The reason for this is financing risk and weaker profitability.
Eli Lily rises a whopping 14.5 per cent after the health giant presented its quarterly figures. On Monday, Warren Buffett’s Berkshire Hathaway climbed to a new record high after the company delivered strong second-quarter results. On Tuesday, the share fell 0.7 percent in the opening minutes.
“Warren Buffett is known as one of the world’s best investors in most circles, and for good reason. Under his leadership over the past 60 years, Berkshire has increased its value from almost nothing to roughly half the value of the Norwegian oil fund,” writes Roger Berntsen in an update from Nordnet.
The US trade balance in June was minus 65.5 billion dollars, official figures show on Tuesday. According to Trading Economics, a deficit of 65 billion dollars was expected.
2023-08-08 13:31:45
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