The New York Stock Exchange ended the week with a significant drop, erasing with a stroke of the pen the strong rebound on Thursday, and closing the month of April in the red, dragged by the technology sector.
(Despite the fact that Wall Street closed in the green, the fear in the markets continues).
The Dow Jones lost 2.77% to 32,977.21 points, the technology Nasdaq sank 4.17% to 12,334.64 units and the S&P 500 3.63% to 4,131.93 points.
In the month of April, the Dow Jones lost almost 5%. The Nasdaq meanwhile collapsed 13%, its biggest monthly drop since the 2008 crisis. The S&P 500, more representative of the general market trend, with a drop of almost 9% in April, registers its worst month since the beginning of the pandemic.
(Tecnoglass: ‘companies have to lose fear of going public’).
Amazon, one of the largest market capitalizations on the Nasdaq, lost 14.05% at $2,485.63 per share, after Jeff Bezos’ group had its first quarterly deficit since 2015, AFP reported.
The figure is mainly due to a downward revision of the value of its investment in electric car maker Rivian, but the e-commerce giant also sees its sales weaken due to inflation and lowered forecasts for the next quarter.
Apple, which on Thursday announced record sales of iPhones in the first quarter of the year, fears that the lockdowns in China will affect its activity.
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