New York Stock Markets start to plunge ahead of FOMC and Apple earnings

Input 2021.01.28 00:20

Major indices in the New York Stock Market started with a sharp decline ahead of the results of the Federal Open Market Committee (FOMC) on the 27th and the performance of big tech companies such as Apple.

As of 9:55 a.m. (Eastern Time), the Dow Jones 30 Industrial Average on the New York Stock Exchange (NYSE) was trading at 3,421.52, down 515.52 points (1.67%) from the battlefield. The Standard & Poor’s (S&P) 500 index fell 74.2 points (1.93%) from the battlefield to 3775.42, and the Nasdaq index fell 289.13 points (2.12%) to 133336.94.

The market is paying close attention to the FOMC results coming out in the afternoon and the performance of Apple and Tesla.

The stock price of the US game retail chain’GameStop’ is also drawing attention. Gamestop stock prices have been fluctuating rapidly due to the short selling of hedge funds and the intensive buying of individual investors.

At the beginning of the market, GameStop shares have soared more than 100% due to the news that the hedge fund Melvin Capital eventually liquidated its short selling position. The stock price of AMC, a movie theater where individual investors focus, also rose around 300% at the beginning of the market.

Stock markets in major European countries are weak. The pan-European index Stoxx 600 fell 1.76%.

International oil prices fell. In March, Western Texas crude oil (WTI) prices moved 0.95% to $52.11, down 0.95% from the previous trading day, and Brent oil moved 0.86% to $55.43.