Tech stocks hit Wall Street on Tuesday

Tech stocks hit Wall Street on Tuesday

Wall Street closed, this Tuesday, December 27, with the nasdaq hit by technology firms at the start of the last week of the year shortened by the long Christmas holiday.

(See: Colombian Stock Market, cheap but without buyers).

The Dow Jones Industrial Index gained 0.11%, the Nasdaq, a technology stock, lost 1.34% and the broad index S&P 500 -of the largest 500 listed companies- dropped 0.40%.

US Treasury bond yield at 10 years it was close to 4%, which weighed on investor sentiment.

The impact was greatest on technology stocks, which tend to be more credit-dependent than industrial companies.

Tesla Motors plunged 11.4% on reports that it cut production in China, adding to demand concerns surrounding the mogul’s electric car company Elon Musk.

on your side, southwest Airlines it sank 6.0% as a significant number of flights continued to be cancelled, even as the bad weather over the weekend cleared and other carriers resumed normal operations.

(See: The tasks for the Stock Market to resurface, according to experts).

The United States Department of Transportation said it was “concerned about Southwest’s unacceptable rate of cancellations and delays“and promised”examine whether the cancellations were controllable and whether Southwest is following through on its customer service plan“.


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