Wall Street opened on Monday in red with slight losses and its main indicator, the Dow Jones Industrials, fell 0.96% in an opening marked by uncertainty regarding economic reopens and fear that the gradual return to the normality is happening too fast.
Five minutes after the start of operations on the New York Stock Exchange, the Dow Jones fell 233.27 points and stood at 24,1098.05 integers, especially weighed down by large listed companies such as American Express (-3.47%) and Dow Inc (-3.04%).
For its part, the selective S&P 500 fell 0.8% or 23.47 points, to 2,906.33 integers and the Nasdaq composite market index, which brings together important technology companies, registered a more timid decrease of 0.42% or 37.94 units, up to 9,083.38 points.
Investors in the New York Stock Exchange were pessimistic after interpreting the outbreak of COVID-19 in South Korea as a warning of the dangers that a premature reopening of the economy can pose and the fear that this will lead to new measures of confinement in the environment. term.
Likewise, the analysts pointed out that there is some concern in the parquet due to the lack of a treatment that works against the virus or a vaccine, as well as the scarcity of the tests necessary to make scale analyzes and isolate the positives as soon as possible, a vital issue so that there are no setbacks during economic reopens.
Likewise, the renewed tensions between the United States and China over the origin of the virus and the threats of the US president, Donald Trump, to impose new trade restrictions are also worrying.
Experts say that with the economy at levels similar to those of the 2008 financial crisis and with the November presidential elections just around the corner, Trump is likely to "intensify" his attacks on the Asian giant to obtain electoral revenue.
In this context, around twenty of the large Dow Jones Industrials traded were in the red and, in addition to AmEx and Dow Inc, there were notable losses from companies such as Boeing (-2.89%), JPMorgan Chase (-2.42%) or Raytheon Technologies (-2.36%).
By sectors, all were also trading negative except for sanitary (0.35%) and losses were led by raw materials (-2%), financial (-1.8%), and public services (-1.67). %) and real estate (-1.45%).
In other markets, Texas oil was up 2.26% to $ 25.30 a barrel on Saudi Arabia's announcement to make an additional cut of a million barrels per day to the adjustment already agreed in the last meeting of the Organization of the Petroleum Exporting Countries and its partners (OPEC +).
In addition, at this time gold fell to $ 1,711.60 an ounce, the yield on the 10-year Treasury bond fell to 0.678% and the dollar lost ground against the euro, with a change of 1,838.