NEW YORK (awp international) – A slump in the price of Walt Disney shares after disappointing business figures pulled the US leading index Dow Jones Industrial into the red on Thursday. The Disney papers sagged nearly nine percent. Especially in the important streaming business, which competes with the likes of Netflix and Amazon, things went worse than investors had hoped. The Dow Jones fell 0.16 percent to 36,021.23 points in early trading.
It looked better on the broad market. The S&P 500 rose 0.31 percent to 4660.98 points. Tech stocks that had suffered from worries about inflation the day before were also in demand. Because: Should the US Federal Reserve have to tighten its monetary policy faster than expected in view of the high inflation, this would probably weigh on the high valuations of many tech companies in particular. On Thursday, the technology-heavy Nasdaq 100 recovered by 0.71 percent to 16 098.70 points.
The shares of the electric car pioneer Tesla fluctuated between moderate gains and losses. After his sensational Twitter vote in the past three days, Tesla boss Elon Musk had cashed in his company’s shares for the first time in years. From Monday through Wednesday, he sold roughly $ 5 billion worth of Tesla shares after redeeming some of his stock options. Tesla shares briefly slipped below the $ 1,000 mark on Wednesday before rebounding. Just last week they had reached a record high of $ 1,243, which corresponds to a price gain of a good 76 percent over the course of the year.
After an impressive stock market debut for Rivian shares the day before, the shares of Tesla competitor continued their price rally with a plus of 13 percent./mis/he
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