New York.- Wall Street closed with notable losses this Friday and its main indicator, the Dow Jones Industrials, fell 2.84% after a day marked by the increase in cases of COVID-19 in the US, which is forcing authorities and companies to slow down their economic reopens.
According to provisional data at the end of operations on the New York Stock Exchange, the Dow Jones cut 730.05 points and stood at 25,015.55 units, especially dragged down by Goldman Sachs (-8.65%), Nike (-7, 62%), JPMorgan (-5.48%), American Express (-4.53%) and Exxon Mobil (-3.43%).
The selective S&P 500 fell 2.42% or 74.71 points, to 3,009.05 whole; and the Nasdaq composite index, which brings together the most important technology companies, fell 2.59% or 259.78 points, to 9,757.22 as a whole.
The New York parquet decidedly bet on sales this Friday, when the number of daily infections in the country is close to 40,000 and practically half are registered in the states of Texas, California, Arizona and Florida.
Investors are increasingly concerned about the impact of the rebound on the economic reopening, which authorities are already taking action against: Texas has restricted the capacity and activity of restaurants and Florida has suspended alcohol consumption in bars.
Large companies from Apple to Disney are also reacting to the situation, and today Microsoft joined in announcing that it will permanently close its physical stores, not only in the US but around the world, at an estimated cost of about 450 million Dollars.
By sector, the highest losses were for the communications (-4.49%), financial (-4.33%) and energy (-3.51%) firms.
The financial sector was weighed down by the results of the Federal Reserve’s stress tests, in which the institution considered that some banks could approach minimum capital levels due to the pandemic and required the largest entities to suspend their share buybacks and limit dividend payments.
At the corporate level, the falls of Facebook (-8.29%) and Twitter (-7.41%) stood out after the «boycott» of a group of important companies that have decided to withdraw their advertising in response to hatred and division on these platforms, the latest one being the consumer products multinational Unilever.
Also notable were the increases in the biotech Vaxart (28.43%), whose COVID-19 vaccine candidate has been included in an acceleration program financed by the US Government, and by the clothing firm GAP ( 18.79%), who announced a collaboration with singer Kanye West.
In other markets, Texas oil dropped slightly to $ 38.49 a barrel, ending the week with a 3.4% loss in value due to fear of the impact on the demand for crude oil that could be caused by the rise in cases of coronavirus. .
At the close of Wall Street, gold rose to $ 1,783.60 an ounce; the yield on the 10-year Treasury bond fell to 0.641% and the dollar lost ground against the euro, with a change of 1.1223.
— EFE to eldia.com.do