The New York Stock Exchange fell Wednesday the day after records for the Nasdaq and the S&P 500, in a market frustrated by the deadlock in negotiations on new stimulus measures in the United States.
The Nasdaq, which suffered from the poor session in the tech sector, lost 1.94% to 12,338.95 points.
The Dow Jones Industrial Average fell 0.35% to 30,068.81 points and the broader S&P 500 index fell 0.79% to 3,672.82 points.
“There is an uphill battle in the market between virus news and vaccine news,” said Art Hogan of National Holdings.
“What makes it possible to decide between them is the hope of a recovery plan,” he continues. “When there is a shake, the market needs to catch its breath and I believe that is what happened today.”
As the end of the year holidays approach, the adoption of budgetary aid for the homes and businesses hardest hit by the coronavirus crisis remains highly uncertain.
Three different texts are on the table, including a recent proposal from the White House, but none won the support of Republican and Democratic parliamentarians.
Several big names in tech posted significant losses on Wednesday, including Amazon (-2.30%), Alphabet (-1.85%) and Apple (-2.09%).
Facebook (-1.93%) also fell, also weighed down by accusations from several US authorities that the Californian giant engaged in anti-competitive practices during the acquisition of several flagship services, including WhatsApp or Instagram.
The food delivery service DoorDash, which saw demand for its services grow during the pandemic, was on the other hand feasted for its entry on Wall Street where the group’s title soared 86% to 189.51 dollars, on the first day of trading.
Among other values of the day, IT security specialist FireEye fell more than 13%. The company, usually called to the rescue in the event of hacking, was itself the victim of a cyber attack that could have been carried out by a state, according to a document sent to the US stock market policeman on Tuesday.
Boeing lost 1.91%. The 737 MAX’s first commercial flight in 20 months has landed safely in Porto Alegre, Brazil. The plane was recently cleared for re-flight by US and Brazilian authorities after being grounded for twenty months following two fatal crashes that killed 346 people.
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