[뉴욕증시]Political risk, big tech regulation, and overvaluation controversy all at once fell

[샌프란시스코=뉴스핌]Correspondent Kim Na-rae = The New York stock market closed down all at once on the 11th (local time).

On that day, the Dow Jones Industrial Average of the New York Stock Exchange (NYSE) closed at 318.69, down 89.28 points (0.29%) from the previous trading day. The Standard & Poor’s (S&P) 500 fell 25.07 points (0.66%) to 3799.61, while the Nasdaq fell 165.54 points (1.25%) to 10,3036.43.

Wall Street Bull [사진=블룸버그]

In the mayor, US political variables such as a proposal for impeachment against President Donald Trump and discussions on additional stimulus measures have emerged again, and uncertainties in future monetary policy have created anxiety. In addition, the controversy over regulation and overvaluation of big tech companies also put a burden on the market.

With less than a few days left in office, the Democrats have launched a bill of impeachment proceedings against President Trump. It is expected to vote on the impeachment bill in the House of Representatives this week.

Accordingly, some investors are concerned that stimulus measures may be delayed.

Brand McMillian Commonwealth Financial Network’s Chief Investment Officer said, “When you look at what the market is as important as governance in the United States, even a little uncertainty can have a meaningful impact.” .

However, the senior market strategist for Trust Advisory Services said he was still hopeful about the stimulus package. “Since last week, the market is in a bit of a digestion stage,” he said. “There will still be talks about stimulus measures beneath the surface, and expectations for more fiscal stimulus plans remain.”

The prospect that last week’s President Trump supporters’ congressional occupation could trigger tightening of regulations on large tech companies also weighed on the market. In addition, as the New York Stock Market rose sharply, the controversy over overvaluation also fueled the market.

By stock, the share price of Tesla, an electric vehicle maker in the US, fell 7.8% on that day. Bank of America (BofA) raised the Tesla target price from $500 to $900, but it did not prevent the overvaluation controversy.

Twitter closed the deal at $48.18, plunging 6.41% on the same day. At one time during the market, it plunged more than 12%, but it narrowed down by entering the second half. However, it was still 160% higher than the stock price that Trump traded before winning the 2016 presidential election.

Meanwhile, Facebook as well as Twitter fell by nearly 4%. In addition, other social media companies such as Snap and Pinterest also showed a decline in share prices. In addition, Alphabet parent companies Google and Apple also showed weakness in concerns over social media measures.

Shares soared when US pharmaceutical company Eli Lilly LLY announced the results of a phase 2 clinical trial that reduced memory loss in Alzheimer’s patients by 32%. Alai Lily closed the deal at $185.94, soaring 11.74% on the same day.

Boeing fell 3.1 percent over the weekend after news of the crash of 62 737-500 jets operated by Indonesian Sri Wijaya Airlines.

Meanwhile, investors are waiting for the earnings releases of JP Morgan, Citi, and Wells Fargo this week, and are attracting attention to this year’s economic comment through a conference call.

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