Stocks in New York with sharp losses | Free press

New York.

Easy to Win, Easy to Lose: Following a strong recovery in the middle of the week, the US stocks fell sharply again on Thursday.

The more than three percent increase in the US government’s ten-year bond yield caused increased nervousness. In addition, productivity in the US economy fell more than previously feared in the first quarter than ever since 1947.

At the close, the Dow Jones Industrial index lost 3.12 percent to 32,997.97 points. This not only wiped out the previous day’s gains, but also those from the beginning of the week were almost wiped out. The US Federal Reserve (Fed) significantly raised the main interest rate on Wednesday, but at the same time limited the possibility of even larger increases.

The S&P 500 fell by 3.56 percent on Thursday. to 4146.87 points. The tech-savvy Nasdaq 100 dropped back to its lowest level in just over a year, then closed 5.06 percent below 12,850.55 points, the biggest one-day loss since September 2020.

Quarterly reports at a glance

Among the individual values, the focus was again on quarterly reports. Ebay’s Nasdaq shares fell 11.7 percent. Concerns about growth weighed on the sales platform’s inventory. Shopify dropped 15 percent. after incorrect profit forecasts and the announced acquisition – the largest e-commerce platform in the history of the company. Concerns about a decline in online shopping towards the end of the krone pandemic are putting pressure on Amazon more and more. The shares of the world’s largest online retailer lost almost 7.6 percent.

In turn, breakfast cereal maker Kellogg posted a surprisingly good quarter and improved sales prospects. Share certificates increased then by 3.5 percent. Although Nikola recorded a lower quarterly loss than a year ago, it did not live up to expectations. Market watchers attributed the fact that electric truck manufacturer shares rose 6.4 percent to the recent price drops. Just the day before, the newspapers had dropped to the two-month low.

Rush with lithium producers

Documents from lithium producers were also sought, which Tesla boss Elon Musk recently focused on due to the importance of the raw material for electric cars. Following Livent, which rose 30 percent the day before and now fell 1.5 percent, investors caught Albemarle. The specialty chemicals group clearly exceeded market expectations in quarterly results and significantly increased its annual targets. The newspapers then gained almost ten percent on the Nysa.

The euro initially weakened in US trade, then rebounded to USD 1.0545. The European Central Bank set the reference rate in Frankfurt at 1.0568 (Wednesday: 1.0531) dollars. The dollar thus cost 0.9463 (0.9496) euro. (dpa)

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