Stock prices in the United States and Europe fell mostly on Wednesday, November 25, as investors tried to assess the impact of the increase in COVID-19 on the economy.
Although the Wall Street Index Nasdaq Composite rose to a new record, an unexpected rise in new US claims for unemployment benefits last week exacerbated pessimism on Wall Street, and the index Dow Jones Industrial Average fell below the 30,000 mark it had exceeded for the first time on Tuesday.
The number of new claims for unemployment benefits in the United States rose to 778,000 last week from 748,000 last week.
This increase has surprised analysts who had predicted that the number of new claims for unemployment benefits would fall to 730,000 last week, compared to 742,000 initially estimated in previous weeks.
“Many businesses are closed forever, and many jobs will never return,” he said. ThinkMarkets analyst Faead Razaqzada.
The London Stock Exchange index fell 0.6%, the Frankfurt Stock Exchange index fell only slightly, and the Paris Stock Exchange index rose 0.2%.
Oil prices continued to rise, approaching $ 50 a barrel, fueled by hopes for vaccines against the new coronavirus, while the US dollar depreciated against the euro and the yen.
“European markets are mostly in decline (..) once again, the recent rise in vaccine optimism has begun to fade,” said Joshua Mahony, an analyst at IG.
US stock index Dow Jones Industrial Average on Wednesday fell 0.6% to 29,872.47 points, the index Standard & Poor’s 500 decreased by 0.2% to 3629.65 points, while the index Nasdaq Composite increased by 0.5% to 12,094.40 points.
The London Stock Exchange index FTSE 100 fell by 0.6% to 6391.09 points on Wednesday, the Frankfurt stock exchange index DAX 30 fell by less than 0.1% to 13,289.80 points, while the Paris stock exchange index CAC 40 rose by 0.2% to 5571.29 points.
In the electronic trading of the New York Stock Exchange, the price of WTI crude oil increased by 1.8% on November 25 to USD 45.71 per barrel. Brent The price of crude oil on the London Stock Exchange rose by 1.6% to $ 48.61 per barrel.
The euro rose against the US dollar from 1.1892 to 1.1914 dollars per euro on Wednesday, the British pound against the US dollar rose from 1.3357 to 1.3378 dollars per pound, and the US dollar against the Japanese yen rose from 104.44 to 104.45 yen per dollar. The value of the euro against the British pound rose from 89.03 to 89.05 pence per euro.
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