Virus fear presses New York stock exchanges


Published on February 26, 2020 10:12 PM |
        Views: 2,613

NEW YORK (AFN) – The stock exchanges in New York went out of trading mainly with losses on Wednesday. The financial markets are in the grip of the new corona virus, which is popping up in more and more countries. In the state of New York several people are being monitored extra, who may be infected with the virus.

The Dow-Jones index eventually closed 0.5 percent lower at 26,957.59 points. The S&P 500 lost 0.4 percent to 3116.39 points. Nasdaq technology level meter closed 0.2 percent higher at 8980.77 points.

Virus infections are being reported in more and more countries. The American president Donald Trump tried to calm things down in the US. It is possible that the government will put extra money aside to prevent further spread of the virus. Trump also accused CNN and MSNBC, with whom he does not already have a warm relationship, of making the situation seem worse than he thinks.


Apple boss Tim Cook does not yet know what the impact of the new corona virus will be on the future plans of the American tech company. Apple (plus 1.6 percent) would work on new iPhones with 5G technology and a new virtual reality headset, but Cook did not give details at the annual shareholders’ meeting. Facebook (plus 0.2 percent) will tackle misleading advertisements for products that should protect people against the corona virus.

Furthermore, travel funds such as Booking Holding and Marriott International were in the spotlight with losses of around 3 percent. Both companies open the books after the closing bell.

Walt Disney

Disney also focused its attention. CEO Bob Iger, under whose leadership the entertainment group took over Lucasfilm, resigns. There is a fear among investors that his successor Bob Chapek has too little experience in the field of content. Until recently, Chapek was the boss of the amusement park branch. Disney lost almost 4 percent.

Investors also responded to figures from DIY chain Lowe’s, whose sales were clearly disappointing. The share lost 4.4 percent. Fast food chain Wendy’s (minus 4.7 percent) also opened the books.

The euro stood at 1.0883 dollars against 1.0888 dollars at the end in Europe. A barrel of American oil was 2.4 percent cheaper at 48.72 dollars. Brent oil cost 2.8 percent less at $ 53.44 per barrel.


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