September 27, 2020

Wall Street closes in red after the rebound of coronavirus cases in China



Wall Street closed this Thursday with its three main indicators in red on a day in which the rebound in deaths and affected by the coronavirus in China suffered a notable rise, which negatively affected the New York parquet.

At the close of the New York Stock Exchange, Dow Jones de Industriales lost 127.84 points or 0.1% to 29,423.34 integers, while the selective S&P 500 claimed 0.16% or 5.51 points and stood in the 3,373.94.

For its part, the Nasdaq market composite index, which brings together major technology companies, fell 0.14% or 13.99 points, to 9,711.97 integers.

A good part of the economic sectors closed in negative, leading the losses in the industrial sector (-0.69%), followed by health (-0.54%), energy (-0.45%) and raw materials (-0.38%)

Green finished the public services (1.02%), the essential goods (0.55%), the real estate (0.5%) and communications (0.15%).

The stock market remained on this day down without major movements, but accused the new data offered by the government of China, which show a remarkable growth in the statistics of the pathogen.

Investors have perceived this increase in the number of cases as a sign that the economy of the Asian giant, and therefore the global economy, will continue to suffer the negative effects of the Wuhan coronavirus, especially as regards the fuel markets.

The exponential increase in the number of those affected has caused concern about the dynamics of the virus as experts begin to predict that this matter will continue over time more than desired.

In addition, analysts point out that the Wuhan coronavirus causes more and more volatility although the impact on the US economy is still “modest”, with companies in the air transport sector as the most affected.

The death toll from the coronavirus in China rose to 1,367 yesterday and the number of people affected rose to more than 60,000, according to the authorities of the Asian country.

Among the 30 listed of the Dow Jones, most recorded losses, especially Cisco (-5.2%), Dow Inc (-2.18%), Pfizer (-2.14%), Walgreens (-1.6% ), 3M (-1.58%) or Merck & Co (-1.53%)

On the other side of the table, companies such as Walmart (1.37%), Procter & Gamble (1.22%), American Express (0.92%) or Travelers (0.86%) closed in green.

In other markets, Texas oil rose 0.49% to $ 51.42; and at the close of Wall Street, gold rose to $ 1,579.60 an ounce, the yield of the 10-year Treasury bond fell to 1,615% and the dollar gained ground against the euro, with a change of 1,084.

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