New York Stock Markets sway… Dow broke by 30,000, a gamestop that jumped 68%

The three major indexes plunged around 2%… Apple and Tesla also fell

New York Stock Exchange
New York Stock Exchange

[AP/뉴욕증권거래소=연합뉴스]

(New York = Yonhap News) Correspondent Kang Gun-taek = The New York Stock Market in the U.S. is fluctuating day after day due to a game-stop situation called’ant (individual investors) revolt’.

On the 29th (local time), the Dow Jones 30 Industrial Average of the New York Stock Market closed at 29,982.62, down 620.74 points (2.03%) from the battlefield.

It has been a month and a half since the 14th of December last year that the Dow has given the 30,000 line.

New York Stock Markets sway...  Dow breaks by 30,000, games stop running 68%

The Standard & Poor’s (S&P) 500 index fell 73.14 points (1.93%) to 3,714.24, while the technology-oriented NASDAQ index fell 266.46 points (2.00%) to 13,070.69.

All three indexes recorded weekly declines of over 3% this week, the worst week since October last year.

Gamestop’s stock price, which is attracting attention due to the’ant vs. hedge fund’ confrontation, surged 67.9%, almost making up for the sharp decline (-44.3%) the day before. This is because stock trading brokers, such as Robin Hood, a popular securities app, have partially eased restrictions on transactions such as Game Stop.

Gamestop soared more than 1,600% until this day, and AMC Entertainment, another intensive purchase target of ants, soared more than 500%.

However, there are also concerns that overheating of some stocks is having a negative effect on the overall stock market, CNBC Broadcasting said.

Hedge funds, which short-sell gamestop stocks, are putting downward pressure on the whole as they sell other stocks to raise cash. It looks like Gamestop and AMC are sucking up a significant portion of the money released in the stock market.

In contrast, Apple fell 3.7 percent, Tesla 5.0 percent, and Microsoft 2.9 percent.

The results of a phase 3 clinical trial for a novel coronavirus infection (Corona 19) vaccine by Johnson & Johnson, a US pharmaceutical company, also seem to have contributed to the stock market.

The preventive effect of the Johnson & Johnson vaccine, which was expected as one of the’game changers’ because it only needs to be inoculated once and can be stored at room temperature, was 66% on average, less than that of Pfizer-Bioentech (95%) and Modena (94.1%).

In the U.S., it showed a 72% prevention effect, but in South Africa, where the mutant virus is prevalent, the number has dropped to 57%.

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