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Wall Street recorded a sharp decline on Thursday. This followed after investors fled market-leading technology shares due to mixed earnings reports and pieces of evidence of a worsening virus crisis, increasing the possibility of a sharp economic downturn.
All three major U.S. stock indexes lost footing. The S&P 500 declined 1.23%, while the Dow Jones Industrial Average and the Nasdaq Composite declined 1.31% and 2.29% respectively.
The S&P 500 tallied its largest daily percentage decline since June 26, dropping more than 1% and ending its four-day high. Apple, Microsoft, and Amazon.com dragged the indexes as Apple closed its session with a 4.6% drop.
“There has been a real disparity between growth and value and the narrowing has begun,” said Stephen Massocca, Senior Vice President at Wedbush Securities in San Francisco.
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
Apple, Google, Amazon, and Facebook’s chief executive officers faced Republican and Democratic U.S. lawmakers on Wednesday for the much-anticipated congressional hearing. The CEOs were questioned for alleged abuse of their market power ...
Oil prices fell on Friday, continuing steep losses from the previous session as concerns piled over a record surge in COVID-19 cases across the U.S., driving the black liquid for weekly declines. Brent crude futures dipped by 0.6% (25 cents) ...
The U.S stocks increased on Wednesday and large technology companies lifted Nasdaq to another record close as investors continued to shrug off higher numbers of coronavirus cases in the United States. The Nasdaq Composite Index, led by Amazon.com ...
On Monday, Tesla Inc.’s shares (TSLA.O) rose by 13% to an all-time intraday high of $1,342 per share. Some analysts said that the electric car maker's shares could surge another 24% this year. JMP Securities (JMP) boosted its price target ...
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