Shares of technology drag Dow & Co down: Apple, Amazon, Microsoft, Tesla and Moderna under intense pressure, Disney stable after business day – day on Wall Street

Shares of technology drag Dow & Co down: Apple, Amazon, Microsoft, Tesla and Moderna under intense pressure, Disney stable after business day – day on Wall Street

A new attempt to reclaim the US stock market failed miserably on Wednesday. Again, it was the prices of the major tech companies that brought the markets down with them. Weights like Apple, Amazon and Microsoft came under pressure. The Nasdaq 100 weighing technology lost 3.06 percent to 11,967.56 points.

It dropped below 12,000 mark for the first time since November 2020. Sales pressure increased in late trading. The leading Dow Jones Industrial Index held better than the Nasdaq stock market with a 1.02 percent discount to 31,834.11 points. Still, Dow is testing its lowest level since March 2021. Tech shares were also the biggest losses in Dow. The overall S&P 500 market was down 1.65 percent to 3,935.18 points, the lowest in more than a year.

Inflation brought the wind again: Consumer prices rose 8.3 percent in April of that year. Analysts expected a modest increase in average.

The news that the world’s largest oil company, Saudi Aramco, has replaced the technology company Apple as the world’s most valuable company sparked controversy on Wall Street. While Saudi Aramco prices have benefited from higher oil prices in recent weeks, the iPhone manufacturer’s paper was under increasing pressure on capital market interest rates and growth concerns. This Wednesday, Apple dropped by more than five percent to its lowest level in half a year.

Expectations of rising interest rates are causing investors to sell stocks of technology in particular. Because in the long-term phase of cheap money, investors were increasingly relying on high-tech technology companies. Now, however, interest rates are likely to rise sharply based on higher inflation, which means that Apple, Amazon & Co could turn out to be more valuable. Amazon and Microsoft each dropped more than three percent. Because of the high weight of these large companies in the stock market indices, low stock prices lower those indices. Tesla park also had another problem. In the end, the paper lost more than eight percent.

Papers from Unity Software experienced a price hike. The 3D game developer’s revenue target did not meet expectations. That caused prices to drop by more than 37 percent to the lowest level since the IPO in September 2020. Unlike Electronic Art, here analysts praised the game’s most optimistic goals for the financial year. The course went up by eight percent.


The second-quarter earnings target from Paysafe’s payment processor was heavily burdened with shares, which fell by 16.2 percent. Moderna shares fell 6.7 percent. Vaccine manufacturer fired CFO Jorge Gomez shortly after taking office. Moderna said the reason was an internal investigation into financial reports from his former employer Dentsply Sirona.

Walt Disney was able to impress with a glimmer of hope after a business day. Although sales and profits fell short of the forecast, Disney + subscriptions were higher than expected. Shares gained 1.6 percent in the hour-long trade.

(With material from dpa-AFX)

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