Tech giants disappoint: Biggest weekly loss since March – Dow Jones in descent
EDisappointing quarterly reports from well-known tech giants like Apple and Facebook weighed on the American stock exchanges on Friday. In addition, the new corona infections, which have triggered sharp price drops since Monday, continue to cause concern. The at times heavy daily losses in the Dow Jones Industrial fell sharply in the last hour of trading, however.
Ultimately, the Wall Street Index went out of business at a moderate discount of 0.59 percent to 26,501.60 points, after having lost almost 2 percent at times. The minus since the beginning of the week amounts to 6.5 percent, his monthly loss to 4.6 percent. The Dow had not slumped so strongly since March, on a weekly or monthly basis.
The number of new infections in one day hit a new high in the United States on Friday at 90,155 cases. 91,254 new infections were recorded on Thursday.
The market-wide S&P 500 lost 1.21 percent to 3269.96 points on Friday. The Nasdaq 100 lost 2.62 percent to 11,052.95 meters and thus lost 5.5 percent in the past five trading days. This also means the largest loss for the Nasdaq selection index since March. The monthly minus adds up to a more moderate 3.2 percent.