Monday , March 8 2021

Red Wall Wall Street: optimism in China has not helped technology stocks – the Stock Exchange Finance



Dow Jones S & P 500 also regretted during Friday trading session, with the assistance of President Donald Trump's remarks that China has expressed its willingness to enter into the trade agreement, therefore, can not be more customs duties on Chinese imports.

– I think agreement will end. We'll know that very soon, "said Trump.

It looks like Wall Street closed at 22:00 Norwegian Friday night time:

  • Dow Jones closed 0.50%
  • The Standard & Poor's 500 Index gained 0.23%
  • The NASDAQ index fell 0.15%

All three indices are in total red for the week.

Nvidia shell

However, it was not only a positive track in New York on Friday, as more of the technology teams continued to struggle with falling stock prices.

Worst, it went beyond the Nvidia graphics manufacturer, which fell 19.17 percent, which marked the company's worst trading day since 2008, and the eighth-eighth day in history.

The company reported quarterly data on Thursday night, which showed weaker-than-expected earnings and disappointing guidance for the rest of the year.

The company's strong graphics card is mainly used for games, or deal with complex transactions to "dig" after encryption. The demand for this type of video card fell as the price of the crypto coin fell throughout the year.

NVIDIA also brings more chip manufacturers into suction paint AMD shutting down 3.93 percent, micron dropped 1.22 percent and

VanEck Vectors Semiconductor (Nasdaq: VNK), which was traded on the market, fell 1.78%.

Apple, however, had a better day with a 1.1 percent increase, but ended the week down 5.35 percent after heavy Monday and Wednesday.

Heavy for more giants

However, there were more than just technology companies lost value, fighting as Amazon (-1.36 percent), Facebook (-3.02 percent), Netflix (-1.17 percent) and, 15 percent) also had seen stock prices being sharpened on Friday.

The Nasdaq 100, the largest company on the Nasdaq, excluding financial companies, fell 0.33%

Technology companies have been struggling since the Oslo stock exchange in October, and the slowdown is not over.

"The reduction is driven by more fundamental concerns about the key components of the index, and now there is a risk that the long period of Nasdaq 100 will outweigh everything else," said Michael Saul, chief executive of Marketfield Asset Management. CNBC.


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