Trading News since 2005

Wall Street closes in red for fear of the advance of the coronavirus

Wall Street closes in red for fear of the advance of the coronavirus

0

Wall Street closed this Friday in red dragged by fear of a rapid expansion of the Wuhan coronavirus (China), after confirming a second case in the United States and the first two in Europe.

The Dow Jones of Industriales , the main indicator of the New York parquet, fell by 0.58% or 170.36 points, to 28,989.73, accumulating its fourth consecutive day downwards.

The selective S&P 500 lost 0.90% or 30.07 units, up to 3,295.47, while the Nasdaq market composite index was left 0.93% or 87.57 and ended at 9,314.91.

Although the three indices opened the day with gains, they quickly moved into negative territory after the US authorities confirmed a second case of the coronavirus in the country: a woman who traveled from Wuhan to Chicago.

France, meanwhile, also announced that it has confirmed two cases, which would be the first detected in Europe.

Given this scenario, investors bet on products considered safe, such as gold and US Treasury bonds, and set aside the shares.

Thus, all the sectors of Wall Street ended in red, with the only exception of public utilities, which advanced 0.32%.

The worst stops were health firms (-1.68%), financial firms (-1.36%) and energy firms (-1.18%).

The airlines also suffered, with sharp declines for American Airlines (NASDAQ: AAL ) (4.03%) and other giants in the sector.

The Texas oil , the US benchmark, was also clearly hurt by concerns about the virus, registering a fall of 2.5% and capping its worst week since last May last year.

Among the thirty Dow Jones values, the greatest losses were those of Dow (-3.50%), Merck (-2.92%) and JPMorgan Chase (NYSE: JPM ) (-2.48%).

Only half a dozen companies in this index ended the day positive, led by Intel (NASDAQ: INTC ), which shot up 8.13% after releasing its quarterly accounts on Thursday after closing.

Boeing (NYSE: BA ), meanwhile, achieved a 1.68% progress, after it was known that the US regulator has informed the airlines that it could approve the return of the 737 MAX operations before the middle of the year

In other markets, at the close of Wall Street, gold rose to $ 1,571 an ounce, the yield of the 10-year Treasury bond fell to 1,689% and the dollar gained ground against the euro, with a change of 1,1027.

Leave A Reply

Your email address will not be published.