Categories: Stocks News

The Dow Jones spread of the falls in Europe and starts the week, losing 1.8%

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Wall Street closed this Monday, with notable losses and its main indicator, the Dow Jones Industrial, are left a 1,84% in the middle of a strong volatility which has also affected other places due to the increase of cases of Covid-19 in Europe, among other things.

In a day black in the that the main indicators of the european left more than 3%, the Dow Jones closed in the 27.147 points, weighed down by large listed and American Express (-5,1%), Honeywell (-4,5%) or Dow Inc (-4,9%).

The selective S&P 500 fell 1.12% to stand at 3.281 points; and the composite index of the market Nasdaqin the quoted on the main technological, fell 0.13% to 10.778 points.

The investors of the closet new yorker bet decidedly on the low at the beginning of the that may become in the fourth week followed by massive sales of shares; and the indicator is VIX, which measures volatility, shot up nearly 13%.

Wall Street reacted to the expansion of the pandemic Covid-19 in several european countries led by United kingdom, France and Spain, and to the possibility of a second wave of confinements, with its consequent economic impact.

Trade war

In the domestic arena, the US reacted to the report of the International consortium of Investigative Journalists (ICIJ, in English) on money laundering by the big banks of the world.

Thus, the financial sector was one of the hardest hit with large declines in JPMorgan Chase (-3,1%), although the greatest losses were for the energy (-3,7 %), that of the basic materials (-2,82 %) or the industrial (-2,61 %).

The market observed with fear the escalation of tension between Washington and Beijingafter this weekend the Ministry of Commerce chinese released a list of “entities not reliable” in what can be interpreted as a retaliation for the veto u.s. applications WeChat and TikTok.

On the other hand, raised doubts about the progress of the stimulus package to alleviate the effects of the coronavirus which is aground since July in the US Congress, after the death on Friday of the iconic judge of the Supreme Court Ruth Bader Ginsburg.

In other markets, oil from Texas coming down to 39,74 dollars per barrel; the gold gave way to 1.918,10 dollars the ounce; the bond yield of the 10-year Treasury fell to 0,654% and the dollar gained value against the euro, with a change of 1,1752.

Ryan Helton

A Stock enthusiast since childhood, Ryan is known for his impeccable knowledge in the technology and gadgets niche. He has been working with eTrendy Stock as a contributor for most stock category and his articles are always well-researched and accurate.

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