S&P 500 and Nasdaq move to new highs – ‘Weight’ for Dow the coronavirus

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LAST UPDATE: 19:55

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Wall Street indicators are moving mixed in the last session of the week, amid renewed concerns that the new increase recorded in coronavirus cases in the United States and worldwide could hit the economic recovery again.

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In particular, the Dow Jones industrial average “loses” 153 points or 0.43% and stands at 35,717.32 points. 0.17% at 4,714.50 points, heading for a new all-time high after yesterday’s record, and the Nasdaq tech, which has been moving up since the beginning of the session, adds another 0.68% to 16,102, 50 units.

The climate in the US stock market, however, is heavy, as the new escalation of cases in the country and especially the decision of Austria to proceed with a total lockdown for 20 days and the “threat” of Germany that it may proceed with similar measures, brought back to the fore the unpleasant memories of the previous year with the lockdowns in many countries that led to recession several economies and caused problems in the supply chains which have not yet been fully restored.

It is noted that Austria announced that from Monday it will impose a total, national lockdown and becomes the first country in the European Union to take such measures again to deal with the resurgence of the pandemic.

At the same time, Germany announced that the new wave of cases sweeping the country has worsened and declared a state of emergency, with the Minister of Health leaving a window open even for a lockdown.

The news, coupled with the growing number of cases in the US, has also alarmed investors in the US market, raising fears that new restrictions, along with a reduction in the Fed’s emergency asset trading program, could undermine development.

The United States has seen an increase in cases in the upper Midwest as the festive season begins next week, with the daily number of cases exceeding 100,000 for a second day and the seven-day average climbing to six-week high, according to the New York Times Tracker.

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