After a day of breather, Wall Street is going downhill again for the weekend. The technology sector is the main negative factor. Again, Apple does not want to venture a forecast and, as an economic indicator, is dampening the mood on the US stock exchanges.
Disappointing quarterly reports from well-known tech giants such as Apple and Facebook weighed on the US stock exchanges on Friday. In addition, the new corona infections, which have triggered sharp price drops since Monday, continue to cause concern. The at times heavy daily losses in Dow Jones Industrial fell sharply in the last hour of trading. Ultimately, the Wall Street Index rose at a moderate discount of 0.59 percent 26,501.60 points from trading, after losing almost 2 percent at times. The minus since the beginning of the week amounts to 6.5 percent, his monthly loss to 4.6 percent. The Dow had not slumped so strongly since March, on a weekly or monthly basis.
The market breadth S&P 500 fell 1.21 percent to 3269.96 points. The Nasdaq 100 lost 2.62 percent to 11052.95 meters and lost 5.5 percent in the past five trading days. This also means the biggest loss for the Nasdaq selection index since March.
Meanwhile, in the United States, hospitals in some states are filling rapidly. "We're going in the wrong direction," said US disease expert Anthony Fauci. The volatility index was higher than it had been in five months. Tech values came under particular pressure. The shares of Apple slumped 5.6 percent. IPhone sales fell more sharply in the past quarter than they have been in two years because buyers were reluctant to introduce the new 5G devices. Down by 5.5 percent it went for the AmazonTitle: Internet retailers actually benefit from the pandemic because people are increasingly shopping on the Internet.
Nevertheless, the company expects higher costs in the final quarter. Facebook also got under the wheels, the papers fell by a good seven percent. The company expects to see more difficult business in the coming year. A good fifth lost the shares of Twitter: The short message service disappointed the expectations of the analysts with the development of the users. After the initial influx at the beginning of the Corona crisis, the number of monthly users now remains at 187 million. "We're seeing a big sell-off in tech stocks because they're not living up to the hype and because people are concerned about the choice," said Kim Forrest, chief investor at Bokeh Capital Partners.
On the other hand, the shares of cruise operators went up Carnival, Royal Caribbean and Norwegian with a Plus of up to six percent. The US epidemic protection agency CDC presented the framework for the safe operation of cruise ships in the pandemic, which includes corona tests and additional protective measures for employees. A ban on cruises expires on Saturday.
.