July 23, 2020
22:18
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The American markets ended sharply down on Thursday, the resumption of coronavirus contaminations in the South and West of the country having raised unemployment for the first time since the end of March.
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Wall Street closed lower on Thursday, as spike in contamination in the United States pushed unemployment up for the first time since late March, with Congress trying to strike a deal to extend crucial aid for the unemployed, which will end within a week. Thousands of businesses and restaurants have had to close their doors in the country and send their newly rehired employees home due to an explosion in the number of Covid-19 cases in the South and West. The Dow lost 1.31% to 26,652.33 points. The Nasdaq fell 2.29% to 10,461.42 points. The S&P 500 yielded 1.23% to 3,235.66 points.
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On the value side, Microsoft fell 4.35% after releasing its quarterly results, with the growth of its Azure cloud service showing for the first time below 50%.
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For its part,Tesla reported profit for the fourth quarter in a row, which saw it climb early in the session, exceeding $ 300 billion in market value. But the stock then fell 5%, with analysts questioning whether the price really matched the automaker’s performance.
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