Wall Street closes on low penalized by technology

The Nasdaq index fell more than 2% in the last session of the week. Facebook fell 6% after presenting lower than expected numbers of users in America.

The New York Stock Exchange ended the week low. Wall Street closed the session this Friday, October 30, on negative ground due to the devaluation of the technological sector. Facebook was one of the highlights listed for having dropped 6,08% to $ 263,75.

Among the main stock market indices on the other side of the Atlantic, the Dow Jones industrial index fell 0,59%, to 26.501,60 points, while the financial S&P 500 lost 1,15%, to 3.272,18 points and the technological Nasdaq fell 2,45% to 10.911,59 points. The Russell 2000 depreciated 1,72%, to 1.537,30 points.

The social network led by Mark Zuckerberg reported quarterly earnings and revenue above analysts' expectations, but the number of users in America fell short, having slowed down.

“The user base in the United States and Canada has dropped from 198 to 196 million and the company expects it to remain stable or decline in the fourth quarter. Facebook also warned of a "significant amount of uncertainty" for the coming year, as the accelerated shift to online shopping and the digital advertising boom during a pandemic could end soon, "recall XTB analysts, in research.

As Bankinter analysts recall, the results of the largest North American technology (besides Facebook, Apple, Alphabet and Amazon also released accounts), published last night, beat estimates, “but the market is very demanding and I expected future forecasts (guidances) even better ”. “For that reason, all registered falls in after-market“, With the exception of the owner of Google, as investors expected“ too much ”, they explained in a note.

The value of 'black gold' is falling. The price of WTI oil, produced in Texas, loses 1,69% to $ 35,56 a barrel, while Brent's barrel price is depreciating 1,20% to $ 37,80.

As for the foreign exchange market, the euro depreciates 0,24% against the dollar, to 1,1646 dollars, while the pound sterling rises 0,22% against the United States currency, to 1,2955 dollars.

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