Dow Industrial to the downside: Corona concerns rock Wall Street


The highly competitive Corona aid package is finally halted and will no longer be approved before the US election: the news has a huge impact on the buying mood of Wall Street investors. Threats of sanctions from China due to the US arms deals with Taiwan are on top of it all.

Concerns about rising new infections and dwindling hopes for further economic aid for the crown ahead of the US presidential election strained US stock exchanges earlier this week. The surprisingly weak housing market data contributed to the battered sentiment. Of the Dow Jones Industrial it fell below the 28,000 point mark at the start of trading and further widened losses over the year. It eventually hit its lowest level since late September.

Nasdaq 100
Nasdaq 100 11,504.52

The Nasdaq indices at first they managed to escape the strong downtrend, but then the high-tech stock market also fell sharply. Eventually he lost Dow 2.29 percent to 27,685.3 points and thus recovered slightly. The breadth of the market S&P 500 it lost 1.86% to 3400.9 points. Of the Nasdaq 100 Selection Index fell 1.61% to 11,504.5 points.

The negotiations on the crown aid package are at a standstill

At the end of last week, there was still the slightest hope that another aid package for the crown could be approved ahead of the presidential elections in early November to support the economy. That confidence has now given way to disenchantment after House Speaker Nancy Pelosi and US Treasury Secretary Steven Mnuchin broke off talks. Now they accuse each other of “changing the negotiating rules” in retrospect.

The Chinese government announced sanctions after the sale of new US weapons to Taiwan, which also weighed on stock market sentiment. “We will impose sanctions on US companies involved in arms sales,” said Zhao Lijian, a spokesman for the Beijing State Department. China has already stressed several times that arms sales to Taiwan seriously undermine the one China principle, he criticized.

After sanctions threats from Beijing: Boeing in red

Boeing 136.30

The shares of the aircraft manufacturer and arms company were then counted in the Dow Boeing with minus 3.9 percent one of the biggest losers. In the S&P he gave Lockheed Martin 1.5 percent after e Raytheon Technologies 2.8 percent off. Salesforce suffered with less than 3.4% of the German software group’s truncated annual goals and medium-term goals LYMPH.

The actions of Apple they were the only ones in the Dow to close in positive territory. They were stable at 0.01 percent. The iPhone maker will unveil its quarterly data this Thursday. Analysts are optimistic. JPMorgan, for example, expects Apple to moderately exceed market expectations. Furthermore, the outlook has room for improvement, as supplier data speaks of higher production numbers of the new 5G-compatible iPhones, according to a study by the US bank.

Apple 97.26

The cards of Otis Worldwide after the numbers that were better than expected in the third quarter fell by 0.4 percent. It wasn’t until mid-October that they hit a record $ 66. The elevator maker went public in the spring via a spin-off of United Technologies. The reason was the conditions the conglomerate had to fulfill for the acquisition of Raytheon Technologies. United later renamed itself Raytheon Technologies.

In the Nasdaq 100 selection index were the shares of the toy manufacturer Hasbro At the bottom with minus 9.4 percent. The market complained that the quarterly report presented was not as strong as the one presented recently by competitor and Barbie maker Mattel.


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