NEW YORK (awp international) – The current household poker in Washington and the current supply bottlenecks in the economy made US investors very insecure on Thursday. The standard value indices closed significantly in the red after a mixed trading start. In the case of tech stocks, on the other hand, the losses were limited.
The leading index Dow Jones Industrial went 1.59 percent lower at 33 843.92 points from trading. With a minus of around 2 percent, the stock market barometer also recorded the first quarterly loss since the beginning of the corona pandemic. On a monthly basis, there is a loss of more than 4 percent.
The broader S&P 500 was down 1.19 percent this Thursday to 4307.54 points. The technology-heavy Nasdaq 100, however, only fell 0.43 percent to 14,689.62 points.
Shortly before the deadline, Congress averted an impending partial standstill of government business. Both chambers voted for a transitional budget until December 3rd. The much bigger problem of the debt ceiling remains for the time being. Without an increase or suspension of this limit by Congress, the US government could default on payments in mid-October, according to Treasury Secretary Janet Yellen.
The supply bottlenecks in many industries are largely related to the catch-up effects caused by the pandemic, but they can hit individual companies hard. One example of this is Bed Bath and Beyond: the retailer for things to do with home ownership had failed to meet market expectations with its business figures and cut its forecasts. The company also suffered from the fact that fewer customers than expected had visited the branches due to the spread of the delta variant of the corona virus. The shares fell by more than 22 percent by the end of trading; The stocks last closed lower at the end of September last year.
Kohl? S shares buckled by more than twelve percent. Bank of America analysts wrote that current supply chain problems could overshadow the retailer’s long-term ambitions.
Against the weak market trend, the shares of Netflix tied on their recent gains and reached a record high in the course of trading. In the end, there was an increase of almost two percent. The streaming service is still benefiting from a well-received fan event at which the company recently presented new trailers.
Among the only two winners in the Dow, the shares of Merck & Co gained minimally. As previously speculated, the pharmaceutical company wants to buy the biopharmaceutical company Acceleron Pharma. Its share certificates have now fallen by almost two percent after they had recently benefited significantly from the takeover rumors.
The euro suffered from the continued strength of the dollar and was most recently quoted at 1.1578 US dollars. The European Central Bank had set the reference rate at 1.1579 (Wednesday: 1.1654) dollars.
The futures contract for ten-year Treasuries (T-Note-Future) recently rose by 0.25 percent to 131.81 points. The yield on the ten-year government bond was 1.50 percent./la/he
— By Lutz Alexander, dpa-AFX —
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