Stocks New York: Dow pays tribute to record chase with losses

For the market-wide S&P 500 it went down on Tuesday by 0.35 percent to 3614.25 points. In contrast, the technology-heavy Nasdaq 100, which lagged behind the other indices the day before, held up better this time with an increase of 0.01 percent to 12,014.55 points.

In the individual values, Tesla stood out with a price jump of nine percent, which earned the electric car manufacturer the top spot in the Nasdaq 100. The day before, the index provider S&P announced that the electric car manufacturer will be represented in the S&P 500 from December 21st.

The shares of Amazon gained only 0.7 percent after the online retailer had announced that customers in the United States could order prescription drugs via the new service “Amazon Pharmacy”. The price swings at the large US drugstore and pharmacy chains, whose businesses could suffer as a result, were all the more violent. The shares of Walgreens Boots Alliance at the Dow end collapsed by almost nine percent, and the papers of CVS Health lost similarly significantly. Rite Aid shares even lost almost 16 percent.

News from the retail industry was received very differently by investors. The shares of Home Depot lost around three percent despite better-than-expected results from the hardware store chain – but recently they were not too far below their record high marked at the end of August. A similar pattern emerged at the supermarket chain Walmart: After the shares had risen to a record high the previous day, they now fell by over half a percent despite surprisingly good numbers. In contrast, investors rewarded Kohl’s figures with a price gain of almost ten percent. At Costco Wholesales, the announced special dividend resulted in a price increase of more than one percent.

For the shares of T-Mobile US it went up 0.3 percent. According to a statement to the Securities and Exchange Commission from the previous day, the investment company Berkshire Hathaway of star investor Warren Buffett stocked up on papers of the cell phone company worth around 276 million dollars in the past quarter./gl/he

(AWP)

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