In the first trading minutes, the Dow Jones index was 3.3% lower. Nasdaq technology exchange plummeted 3.9%. The broader compiled S&P 500 index fell 3%.
Aviation shares make a dive
Airlines such as American Airlines (-7.3%), Southwest Airlines (-3.7%), Delta Air Lines (-5.5%) and United Airlines (-4.5%) went on sale. The spread of the corona virus is bad news for tourism. If more countries are affected by the outbreak, air traffic may be further hampered.
Tech giant Apple (-4.9%) also started the new trading week with a considerable loss. New data indicate that the sale of iPhones in China in January fell by a third. Apple already issued a sales warning last week. In the wake of Apple, suppliers such as AMD (-8.6%), Micron Technology (-4.6%) and Nvidia (-4.6%) also made a substantial step back today.
Financial values also weak
Other technology funds such as software company Microsoft, Google’s mother Alphabet, internet trader Amazon and Facebook also struggled with losses of up to 5.2 percent. The financial sector with banks such as Goldman Sachs, JPMorgan Chase, Morgan Stanley, Citigroup and Bank of America had to contend with price falls of up to 4.6 percent.
Gilead white raven
Pharmaceutical Gilead Sciences (+ 4.7%) was just a white raven in New York. The partner of the Dutch-Belgian biotech company Galapagos was popular after the WHO expressed a positive opinion about a drug from the American group against the corona virus.
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