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Tesla boss Elon Musk:
The stock market value of Tesla has plummeted by 25 percent within six weeks
Photo: Toru Hanai / Reuters
The sell-off in US tech stocks continued on Friday. On the day of the big decline, the Nasdaq 100 tech index was again 1.1 percent lower to 15,680 points, after the price barometer had already lost 2.6 percent the previous day. The weekly minus threatens to get even bigger: So far, the Nasdaq selection index has lost around 3 percent in the past few days. Especially stock market favorites and tech heavyweights like
Tesla, Facebook and Apple
lost again significantly.
Tesla shares have lost around 25 percent of their market value since their record high in early November at around $ 1200.
Most recently, Tesla shares were listed at around $ 900.
Meanwhile, CEO Elon Musk is selling more of his stock in order to pay taxes due after his stock options have been exercised.
The
Dow
Jones
, on the other hand, was somewhat more robust.
The leading index was recently down 0.4 percent at 35,760 points.
So far, in the weekly balance sheet, it is only 0.2 percent in the red.
In the high-growth tech stocks, after the good run of the past few months, investors are again increasingly concerned about the effects of tighter interest rates.
While the Bank of England surprised with an initial rate hike on Thursday, the Fed is initially accelerating the reduction in its securities purchases.
The ECB, on the other hand, temporarily increased its APP purchase program the day before because of the risks posed by the new Corona variant Omikron.
Fedex is rising against the trend
Looking at the individual stocks, there was a whole series of price-moving news on Friday.
A positive exception was the logistics company Fedex with an increase of 5.8 percent.
Investors honored a surprisingly strong quarterly report and the increased profit outlook.
According to JPMorgan expert Brian Ossenbeck, many were prepared for the opposite.
Oracle facing the biggest takeover in its history
For the papers of Oracle, on the other hand, it went down by 5.5 percent before the IPO. The SAP rival is facing the biggest takeover in its history, according to a report in the Wall Street Journal. Accordingly, he could reach for the health software specialist Cerner, whose shares rose by almost 16 percent. At first glance, UBS analyst Karl Keirstead drew a negative conclusion from such a step for Oracle investors, even if the probability and the conditions were uncertain.
Next in the league with losses are the shares of Johnson & Johnson with a discount of two percent.
The US health authority CDC recommends that other corona vaccines be preferred in the future.
The risk of a brain thrombosis in connection with a vaccination with the preparation from Johnson & Johnson is higher than previously known, it was said in support of an advisory committee that had voted accordingly shortly beforehand.
Dax gives in again
Losses at the end of the week: The German leading index Dax continued to decline after a weak start on Friday and was around 1.1 percent lighter at 15,470 points in the early afternoon. From a weekly perspective, moderate losses are therefore apparent. The leading Eurozone index EuroStoxx 50 recently fell by around 1.3 percent. After the meetings of the US Federal Reserve and the European Central Bank (ECB), the big decline will move into the eyes of the stock marketers before the weekend. This Friday, options and futures contracts on the major stock indices such as the Dax expire on the futures exchanges. The day before, the ECB raised its inflation expectations.
The stock market on these quarterly dates is mostly characterized by technical aspects: Some large investors could try to move the prices quickly in the direction that is favorable for them. In December, the largest and most important expiry date takes place on the futures exchanges, with clearer fluctuations always to be expected, explained Thomas Altmann, portfolio manager at QC Partners.
The biggest losers in the Dax on Friday were the shares of
Delivery Hero
. They lost 4.5 percent and fell to their lowest level since September 2020.
Hellofresh also fell
by 2.4 percent, slipping to a low for seven months. The shares were sold by food suppliers across Europe, and
Deliveroo
and Just
Eat Takeaway also
came under pressure. The latter share was able to make up the losses in the course of trading, however. In November, the sector prices had gone into a pronounced correction phase. The main fear in the market is that growth and the investments required for it will come at the expense of margins.
Daimler
shares
were among the biggest losers in the Dax with a discount of four percent.
The British investment bank HSBC canceled its buy recommendation for the shares of the Stuttgart-based company.
After analyst Henning Cosman had recommended buying the paper since the beginning of the year, he now advised "hold".
After initial difficulties for
Airbus
shares, they turned positive, which was most recently 0.3 percent.
After the Australian airline Qantas, the aircraft manufacturer Air France-KLM has received another order for 100 medium-haul jets, rival Boeing is once again behind.
Turkish lira plunges to record low
The Turkish lira continues to decline: the currency fell to a record low on Friday, while the dollar rose by up to 3.3 percent to 16.1863 lira.
The Turkish central bank lowered the key rate again on Thursday despite high inflation and the currency crisis.
The monetary authorities have already loosened their monetary policy several times since September, even though the inflation rate is currently more than 21 percent.
"That shook confidence in the central bank," says Thomas Altmann from QC Partners.
"And confidence in the Turkish currency is now correspondingly low."
The lira has already lost around half of its value against the dollar since the beginning of the year.
Losses in Asia, Bitcoin under pressure
In Asia, the most important stock indices were also quoted on Friday morning: the Japanese Nikkei posted a drop of 1.8 percent at 28,545.68 points, the Shanghai index fell by around one percent and the Hang Seng was 1.1 percent lower.
The world's best-known digital currency Bitcoin was quoted on the Bitstamp trading platform on Friday morning just above the $ 47,000 mark, a good $ 1,000 lower than on Thursday evening.
Oil prices are falling
Oil prices fell moderately in early trading on Friday.
In the morning, a barrel (159 liters) of North Sea Brent cost US $ 74.33.
That was 69 cents less than the day before.
The price of a barrel of American West Texas Intermediate (WTI) fell 79 cents to $ 71.59.
At the end of a week with partly contradicting economic signals, the pessimistic tones predominated on the crude oil market.
Investors are still concerned about the economic effects of the particularly contagious Corona variant Omikron.
In many countries, the countermeasures are being tightened again, which is likely to dampen economic activity and thus the demand for oil.
With news agencies