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Home / Business / Due to the spread of the coronavirus, October was the worst month since March since the Dow Jones Index.

Due to the spread of the coronavirus, October was the worst month since March since the Dow Jones Index.



As people once again worried about the stock market falling, investors fell nearly $1.7 trillion this week. coronavirus Dissemination in the U.S. and pre-election anxiety

The U.S. Department of Commerce reported on Thursday that the country’s gross domestic product Rebound in the third quarter, Although economic growth has resumed, since the outbreak of COVID-19 in March, the loss of activities has accounted for only two-thirds.

The Dow Jones Industrial Average fell as much as 500 points on Friday, and then compensated for the decline, closing down 0.6%, or 1

58 points, at 26,502. The Standard & Poor’s 500 Index fell 1.2%, and the high-tech Nasdaq Index fell 2.4%.

Throughout October, the Dow Jones Index fell by nearly 6%, or 1,600 points, the largest monthly decline since March. The S&P 500 Index fell 3.5% that month.


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Investors worry that some of the best-performing stocks, especially technology stocks, will lose their height after the surge in recent months, which also contributed to this month’s decline. What is worrying is that the global economic loss caused by the surge in the number of coronaviruses, Washington’s inability to provide emergency relief to Americans who are short of cash, and the uncertainty of the upcoming presidential election are worrying.

CFRA Chief Investment Strategist Sam Stovall said: “Today, you have some investors profiting from technology stocks that they expect to perform well in the third quarter.” “Now the focus is again on COVID-19. And investors just dumped the stock before the weekend.”

The United States reported nearly 89,000 new COVID-19 cases on Thursday, a single-day high during the pandemic. at the same time, Wall Street strategists believe The rise in stock prices in September and early October was partly driven by expectations that Joe Biden would win the White House, or it could be the Democratic Party sweeping Congress.

“[A]At the risk of demonstrating obvious risks, the changing trend of the coronavirus outbreak in the United States and other regions so far remains the most important factor in setting the tone of financial markets,” said Oliver Jones, senior market economist at Capital Economics. Said: Investors: “This week’s sharp decline in the stock market has once again proved this. The decline in the stock market seems to be mainly related to concerns about the rise of virus cases in the United States, especially in Europe. “

The main focus of the market on Friday is Parent company of Apple, Amazon, Facebook and Google. By market value, they are four of the five largest stocks in the S&P 500 index, which makes their movements fluctuating on the index, and since March, they have helped drive Wall Street’s surge.


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Although the quarterly profits announced by the four technology giants this week exceeded analysts’ expectations, investors are still worried. Apple’s stock price fell 6% after investors were upset because its iPhone sales and sales in China were worse than expected. Amazon fell 5.5% and Facebook fell 6.7%.

Twitter is another high-profile technology stock that fell 20.6% last Friday, making it the largest decliner among the S&P 500 stocks. It also reported better-than-expected performance in the most recent quarter, but investors focused on the disappointing growth of daily users.

Google’s parent company Alphabet (Alphabet) performed well, rising 4.4% after reporting growth in digital ad spending.

Other reports provided by the Associated Press.


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