Wall Street closes sharply and Dow hits its lowest since July

The shares were punished by the 2nd wave of Covid-19. The growing pandemic and Washington's failure to reach agreement on a new fiscal stimulus ahead of the November 3 elections led all three stock indexes to close by more than 3%. Oil also suffered a significant drop.

US stocks suffered a crash on Wednesday, with the Dow Jones index closing at lows only seen in late July, due to the fact that coronavirus cases soared worldwide.

Investors were also concerned about the presidential election next week.

The growing pandemic and Washington's failure to reach agreement on a new fiscal stimulus ahead of the November 3 elections led all three stock indexes to close by more than 3%.

The Dow Jones fell 3,43% to 26.519,95 points; the S&P 500 fell 3,53% to 3.271,03 points and the Nasdaq fell 3,73% to 11.004,87 points.

The shares were punished by the 2nd wave of Covid-19.

In the corporate context, the positive reactions to the accounts of Tupperware Brands (+ 35,15%), First Solar (+ 13,25%) and General Electric (+ 4,51%) stand out. Mastercard (-8,11%), UPS (-8,82%) and Microsoft (-4,96%) react negatively to the numbers.

At the macroeconomic level, it was revealed that wholesalers in the USA reduced stocks in September, while in retail there was a higher than expected increase.

The West Texas crude barrel price for delivery in December ended today in the New York futures market down 5,56% to $ 37,37, with investors fearing that the pandemic's advance will reduce demand.

Read more

Recommended

New York Stock Exchange closes without definite trend

Democratic Speaker of the House of Representatives, Nancy Pelosi, and the leader of the Republican minority, Chuck Schumer, defended the new $ 908 billion stimulus package.

"Regulation and supervision are now better prepared to face difficulties", says Gabriela Figueiredo Dias

In the list of activities presented at the COF, the president of the CMVM defended that the improvement of the service levels of the supervisory entity “is also benefiting the supervised entities, namely by anticipating about 40% of the deadlines legally foreseen for authorizations and registrations, or reductions of the same magnitude compared to 2018 in the approval of prospects ”.

“Markets in Action”: Watch this week's program

Follow the "Markets in Action" on the website and on the social networks of Jornal Económico. And review it through the JE TV multimedia platform.
Comments