The shares of the large technology firms and the electric car manufacturer Tesla, which are listed on Wall Street, continued to accentuate their falls for the third day in a row this Thursday, accumulating 540.441 million dollars of loss in combined market value.
In fact, these losses are equivalent to 39.4% of Mexico’s Gross Domestic Product, considering 1.37 billion dollars until 2021.
The biggest loss is registered by Tesla, with a drop of 7.7%, and despite the increase of 1.10% this Thursday, the firm has subtracted 91,145 million dollars from its capitalization, closing at 1,057.26 dollars per share and a capitalization value of 1.09 billions of dollars.
The second largest drop is for the streaming platform Netflix, with a decline of 7.5%, while the e-commerce giant Amazon has subtracted 6.27% in the three sessions and erased 107,488 million dollars from its market value.
For its part, Alphabet, parent company of Google, accumulates a drop of 4.95% in the same period, subtracting 94,230 million dollars from the marketcap.
Meta Platforms (Facebook) has lost 4.68%, followed by Microsoft with a drop of 4.32% in three days and Apple with a loss of 3.53% but a drop of 102,812 million dollars in its market value to 2.8 billion dollars.
Volatility
The movement of technology companies has generated volatility in Wall Street indices. In the session this Thursday, the Dow Jones industrial average closed at 34,583.57 points, with a slight increase of 0.25%, but with a loss of 0.27% so far in April.
The NASDAQ Composite technology index, for its part, ended at a level of 13,897.30 points and a 0.06% increase in the session, but accumulates a loss of 2.27% so far this month. The S&P 500 index closed at 4,500.21 points and a 0.43% increase on the day, although it still maintains a 0.67% drop in April.
“We don’t know how Ukraine is going to play out. We don’t know how this very aggressive Fed is going to affect the economy. We don’t know if they’ll be able to pull off a soft landing. Which amounts to a swing market,” said Dennis Dick, Trader at Bright Trading.
On the other hand, the main index of the Mexican Stock Exchange, the S&P/BMV IPC, closed at 55,280.59 points, this is a drop of 0.29% on the day. In fact, the Mexican square accumulated with that of this Thursday, to its fourth consecutive session in red, losing 2.35% in that period.
For its part, the main index of the Institutional Stock Exchange (Biva) ended at 1,142.29 points, with a fall of 0.28 percent.
In addition, it has lost 2.25% in four consecutive days down. (With information from Agencies)