[뉴욕증시] The decline in the selling of technology stocks all at once… NASDAQ 2.01%↓

[뉴욕=뉴스핌] Correspondent Kim Min-jung = Major indices in the US New York stock market closed down on the 24th (local time). While technology stocks were weakening, cruise and aviation-related stocks, which were strong due to the expectation of an economic reopening, also turned downward, which weakened overall investment sentiment.

On the New York Stock Exchange (NYSE), the Dow Jones 30 Industrial Average closed at 31,2420.06, down 3.09 points (0.01%) from the previous day. It was counted. The Nasdaq composite index, centered on technology stocks, ended at 1,2961.89, down 265.81 points (2.01%).

In anticipation of the reopening of the economy, the weakness in technology stocks, which has a high valuation burden, was remarkable. Apple and Amazon fell 2.00% and 1.61%, while Facebook also fell 2.92%. Netflix fell 2.67%. Tesla weakened by 4.82%.

Fed Chairman Jerome Powell and Finance Minister Janet Yellen maintained expectations for an economic recovery after the day before, at the Congressional Hearing on the second day. Chairman Powell said, “There is a lot of room for this year to be a very strong year.”

New York Stock Exchange.[사진=로이터 뉴스핌] 2021.03.25 [email protected]

Economic indicators were good. IHS Markit said that the US Manufacturing Purchasing Managers Index (PMI) in March was 59, higher than the final value of 58.6 in February. PMI is an indicator of economic expansion and contraction based on 50. The service industry PMI was March 60, the highest since July 2014.

Still, investors maintained a positive view on the US economic outlook. However, Fundstrat’s Tom Lee told CNBC that customers are concerned about the increasing number of confirmed cases of the novel coronavirus infection (Corona 19) in Europe.

“The outlook for a bullish stock is convincing in a recovering economy,” said Oliver Brennan, senior researcher at TS Lombard. “Profit expectations have reached pre-crisis levels.”

Brian Nick, chief investment strategist at Nuvin, told Bloomberg TV that “if the economy continues to exceed expectations, the trade to the business cycle will continue.”

David Yefez, a stock analyst at Executive Wealth Advisors, told Reuters that “there must be greater fear if the market is going to bottom, but I don’t think the market is feeling fear right now.” “He emphasized.

However, the travel-related stocks, which had been strong during the intraday, turned downward without overcoming the burden of selling technology stocks overall. American Airlines and United Airlines fell 2.01 percent and 0.97 percent, respectively, and cruise operator Carnival fell 1.74 percent.

Alcoa’s share price rose 4.92% on the news of Wall Street’s upgrade rating. The stock price of GameStop, which made the previous day’s earnings, plunged 33.78% on the same day.

The Chicago Options Exchange (CBOE) Volatility Index (VIX), referred to as the’Wall Street Fear Index’, recorded 21.17, a 4.29% increase from the previous day.

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