US stock markets plummet in recent trading | Free Press

New York (dpa) – US stock exchanges came under pressure later. After the major indices relied heavily on the levels of the previous day, they fell significantly in the last hour of trading.

The Dow Jones Industrial lost 1.16 percent to 29,438.42 points and closed just above its recent low.

Despite all the euphoria over promising data on coronavirus vaccines, today the number of new infections continues to rise and determines what is happening. For example, schools in New York are closing again after the proportion of corona-positive tests in the metropolis exceeded the three percent threshold.

Some investors are also nervous about Donald Trump’s persistent refusal to acknowledge the election victory of his Democratic opponent Joe Biden. This could create uncertainty and thus end the latest rally in the stock market.

The market-wide S&P 500 was also 1.16 percent weaker since trading, closing at 3,567.79 points. The heavy-tech Nasdaq 100 lost 0.69 percent to 11,894.71 points.

In the fight against the coronavirus, the vaccine developer stocks were kept in sight. According to both companies, the effectiveness of the vaccine from Biontech and its partner Pfizer is 95 percent, which is slightly higher than previously announced. The vaccine works equally well in all age groups and shows virtually no serious side effects. The security required for an emergency approval in the USA is guaranteed.

Mainz Biontech shares, which are traded on the Nasdaq, rose 4.0 percent in the weak trading environment. For those recently relegated from the Dow, Pfizer shares rose on the S&P 100 by 0.8 percent. Moderna’s shares fell 4.6 percent. On Monday, however, this pharmaceutical company had also released strong data on its vaccine candidate, after which the articles jumped to a record high.

Tesla shares also garnered attention once again on the Nasdaq Stock Exchange. As leaders in the Nasdaq 100 Selection Index, they gained just over 10 percent. The fact that the electric carmaker’s share was included in the benchmark S&P 500 in December pushed the price further.

Boeing focused on the Dow. His unfortunate 737 Max pilot was granted permission to take off again after more than a year and a half, subject to conditions. However, it still needs to take a while before it can fully start working again. First, final maintenance work and pilot training must be completed. The aircraft maker’s shares fell 3.2 percent after initial price increases, but had already gained more than 8 percent the day before, fueled by the prospect of re-registration.

Shares of retailers Target and Lowe’s also moved in different directions. At Lowe’s, there were no positive surprises in terms of earnings development, with stocks losing 8.2 percent. At Target, on the other hand, sales growth on a comparable basis significantly exceeded market expectations. In the case of newspapers, it was up 2.3 percent.

The euro was priced at $ 1.1855 at the close on Wall Street after rising to nearly $ 1.19 in early Frankfurt trading. The European Central Bank set the reference rate at 1.1868 (Tuesday: 1.1882) dollars. The dollar cost 0.8426 (0.8416) euros. In the US bond market, the ten-year government bond futures contract (T-Note Future) fell to 138.23 points. The yield was 0.88 percent.