Sharp decline in stocks around the world amid advance of Micron and more restrictions

The Dow Jones Industrial Average and Nasdaq Technology lost 1.2% while the S&P 500 expanded 1.1%, according to data provided by the New York Stock Exchange (NYSE).

Wall Street has joined a widespread slump in global markets amid concerns about the accelerating progress of the Omicron variant.

The strain has been found through testing in 43 of 50 US states and about 90 countries, and the number of cases doubles in 1.5 to 3 days in areas with community transmission, according to the World Health Organization (WHO).

Investors are also absorbing the blow from the $2 trillion White House public works project, which the Senate Democratic caucus itself has rejected.

Investors fear that the increased shutdowns and restrictions will eventually slow the initial recovery in economic activity and intensify the reduction in input supplies, leading to lower global supply and thus higher inflation.

If shutdowns spread to ports, factories and other key points in long global supply chains, the economy could deteriorate.

The fear is an increase in inflation, which actually reached 6.8% in November, compared to the previous year, the highest level in the past 39 years in the United States.

Tomorrow, President Joe Biden will announce new measures related to the progression of the infection, “while issuing a dire warning of what winter will be like for Americans who choose not to get vaccinated,” according to the White House press secretary.

Raw material producers and financial firms also fell dramatically.

However, cruise line operators surged after Carnival gave an optimistic forecast for 2022, despite the increase in Covid cases around the world.

See also  People Server on Youtube, Netflix and HBO Max: People Server on Youtube, Netflix and HBO Max | snail podcast

Carnival is up 3.4%, Royal Caribbean is up 0.4%, and Norwegian Cruise is up 2%.

The best Dow Jones index went to Merck + 0.9%, Home Depot + $0.4, Walmart and Procter & Gamble + 0.3%.

In the S&P 500, Carnival stood out + 3.4%, Pfizer + 2.6%, Norwegian Cruise and American Airlines + 2%.

On the Nasdaq, the largest gains were recorded in Seagen + 3.1%, Electronic Arts +1.9%, Boadcom +1.6% and Netflix +1.2%.

On the Old Continent, the possibility of broader restrictions during the Christmas and New Year holidays looms over many European countries, amid a rapid increase in Covid-19 cases.

The Dutch government launched a strict nationwide lockdown on Sunday until January 9, while a British official said he could not guarantee that no more restrictions would be announced this week.

From Monday, only German citizens, residents and transit passengers will be able to enter Germany from the UK, and all incoming travelers will be required to remain in quarantine for 14 days regardless of vaccination status.

Travel restrictions have also been imposed on arrivals from Denmark, Norway and France.

Austria will only allow vaccinated travelers to enter from Monday.

In the leading Euro Stoxx 50 index, down 1.3%, the Dutch supermarket chain Ahold Delhaize +1.1%, French financial group BNP Paribas 0.5% and French liquor group Pernod Ricard +0 were prominent in increases. , One%.

In London, the FTSE is down 1%, the DAX in Frankfurt is down 1.9%, the CAC 40 in Paris, the IBEX 35 in Madrid is down 0.8% and the MIB in Milan is down 1.6%.

See also  Netflix comes in defense of the "crown" after criticism from the former prime minister

Terry Alexander

"Award-winning music trailblazer. Gamer. Lifelong alcohol enthusiast. Thinker. Passionate analyst."

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top