The New York Stock Exchange, in small shape after two weeks of decline, ended in decline on Monday, December 19, as investors brooded over fears of a recession.
The Dow Jones index fell 0.49% to 32,757.54 points, the technology-dominated Nasdaq lost 1.49% to 10,546.03 points and the S&P 500 fell 0.90% to 3,817, 66 points, the lowest for two months.
“Equities could not hold up, reeling from recession concerns and as bond yields tighten,” said Edward Moya of Oanda.
Last week, the indices had already dropped 1.7% for the Dow Jones, 2.1% for the S&P 500 and 2.7% for the Nasdaq.
“The market seems to be recession focused and technically the stock indices are on a downtrend again. The year-end rally is evaporating unless there is a quick turnaround,” warned Peter Cardillo of Spartan Capital.
Fears of a recession
The other consumer price index (CPI), released last week, came in at 7.1% year on year in November, down from 7.7% in October but too high to convince the US central bank (Fed) to pause rate hikes.
Last week, the Fed, the European Central Bank (ECB), the Bank of England and the Swiss National Bank all raised their key rates by half a percentage point, increasing concerns about a coming recession.
"Tesla's stock suffered"
On the stock market, Tesla has evolved up and down, jostled by the turbulence around the tweets of its founder and new Twitter boss, Elon Musk.
The title, which has so far experienced a dismal month of December (-15%), ended almost at equilibrium (-0.24% to 149.87 dollars).
Over the weekend, Elon Musk asked Twitter users to comment on his position as head of the network.
A majority wanted him to leave the presidency.
"Tesla's stock has suffered brutally since the start of the Twitter soap opera and the deterioration of the brand (note: Tesla) linked to Musk is a real problem," commented Dan Ives, a specialist in the sector of technology at Wedbush.
The fear of possibly lower advertising revenues is
Disney offloaded 4.77% to 85.78 dollars while its film "Avatar 2" was far from attracting as many spectators as expected in the United States
With AFP
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