Wall Street opens with strong reversals and the Dow Jones loses 1.76%

Wall Street opened today with significant losses and the Industrial Dow Jones, its main indicator, left 1.76%, on fears that the trade cease between the United States and China does not crystallize in agreements, as well as fear of a slowdown in the global economy.

After the break of the day before the funeral of former US President George Bush, half an hour after the opening session on the New York stock exchange, the main reference lost 439.97 points to 24,587.10, a setback that also reflected in the selective S & P 500, which fell 1.78% or 48.17 units, to 2,651.89 integers.

The composite index of the Nasdaq market, where the main technological groups are listed, was also affected by a decline of 1.71%, 122.45 points, to reach 7,035.97.

As for the corporate sectors, all opened Wall Street downwards with the energy sector of red lantern (-2.58%), followed by the financial sector (-2.20%), that of basic materials (-1.88%) ), the technological (-1.79%) and the industrial (-1.46%).

With the fall of today, the New York parquet has left more than a thousand points in the last two days of activity, after having started the week with gains from the commercial truce between the US. and China.

On the one hand, the analysts do not see clearly that during the 90-day truce agreed by both trade giants a firm trade agreement can be reached that returns stability to companies and investors.

The detention on Wednesday of the financial director of the Chinese telephone company Huawei Meng Wanzhou, which could be extradited to the United States, by an alleged violation of sanctions imposed by Washington against Iran, has been perceived by analysts as another obstacle in the road to a possible commercial agreement.

On the other hand, for several weeks there has been speculation about the possibility of a slowdown in the global economy that also keeps investors scared.

In this context, in the group of 30 titles quoted in the Dow Jones, only Johnson & Johnson (0.14%) and Verizon (0.13%) awoke in green after the sound of the bell.

Among the other companies that started the morning in red, the one that lost most was Boeing (-3.48%), followed by JPMorgan (-3.25%), DowDuPont (-2.90%), Apple (-2) , 76%), Caterpillar (-2.59%) and Chevron (-2.39%)

As for other markets, oil lost 2.97%, gold rose to $ 1,246.80 an ounce, the yield on the 10-year Treasury bond fell to 2.867% and the dollar fell against the euro, with a change of 1.1385.


Source link