Monday, January 11, 2021
Twitter in the red
Wall Street record hunt ended for the time being
After the record hunt at the end of the week, profit-taking on the US stock exchanges at the beginning of the week causes losses. This is happening on the floor of crypto investors. Twitter feels that Donald Trump has blocked his account.
After repeated record highs on Wall Street last week, investors silvered some of the price gains on Monday. The leading US index Dow Jones Industrial ultimately fell by 0.29 percent to 31,008.69 points. For the broad market S&P 500 was down 0.66 percent to 3799.61 points downhill and the tech-heavy Nasdaq 100 lost a significant 1.55 percent to 12,902.49 points.
A few days before the start of the balance sheet season, investors were wondering whether the upcoming company balance sheets justified the current high price level, said Peter Cardillo, chief economist at Spartan. The big banks Citigroup, JPMorgan and Wells Fargo ring in the numbers on Friday. Investors are also worried about the renewed impeachment proceedings against the outgoing US President Donald Trump, said Thomas Hayes, manager at asset manager Great Hill. They feared that as a result the expected further economic stimulus would be delayed or that the necessary majorities in the US Congress would not come about. "The market wants this additional aid as soon as possible."
Also Bitcoin– Investors took advantage of the recent rally for profit-taking. The oldest and most important cyber motto went down to $ 33,140 and was trading almost 25 percent below its record high of $ 41,998.75 on Friday. This is a reminder that cryptocurrencies are not for the faint of heart, said market analyst Milan Cutkovic from brokerage house Axi. Naeem Aslam, chief market analyst of the brokerage house AvaTrade, emphasized that this price slide was not a cause for panic, but an opportunity to get started. "The rally is not over yet."
In the long term, experts trust Bitcoin to be a multiple of the current rates. Nevertheless, investors threw companies from the cryptocurrency sector and companies that deal with the blockchain technology underlying Bitcoin & Co from their depots. So the papers of Riot, Mara and Silvergate broke by up to 14 percent a.
Also came under selling pressure Twitterafter the short message service blocked the account of US President Donald Trump. Apparently, Twitter wants to avert a future stricter regulation of social media, said investment strategist Michael Hewson from brokerage CMC Markets. "However, this could be a 'too little, too late' case." TwitterStocks plummeted by more than six percent. In their wake, the Facebook titles lost almost two percent. The online network had also blocked Trump's account.
After a 737-500 machine crashed in Indonesia, the manufacturer's papers slipped Boeing around 1.4 percent off. The plane is not a 737 Max, but it casts another dark shadow on the company, said CMC expert Hewson. The 737 Max machines were banned from flying around the world after two crashes.
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