Friday , March 5 2021

Red Wall on Wall Street: Chinese optimism did not help with technological stocks – stock market and finance



Dow Jones and S & P 500 also regretted on Friday's trading day, assisted by President Donald Trump's remark that China had expressed its willingness to enter into a trade agreement and, therefore, no longer had any customs duties on Chinese imports.

– I think there will be an agreement. We will know it soon, "Trump said.

Wall Street seemed to be closed on Friday night in Norwegian times:

  • Dow Jones closed 0.50 percent
  • The S & P 500 went up to 0.23 percent
  • Nasdaq Composite dropped by 0.15 percent

All three indices are completely red week.

Nvidia shell

However, it was not only positive to follow in New York on Friday, as several technology teams continued to struggle with declining stock prices.

Worst of all, it surpassed the manufacturer of Nvidia graphics card, which fell by 19.17 percent, marking the worst trading day of the company since 2008 and the eighth worst day in history.

On Thursday evening, the company released quarterly data showing weaker revenue than anticipated and disappointing led by the end of the year.

The company's powerful computer graphics card is used primarily for gaming or for processing complex transactions that are "copied" after cryptography. Demand for this type of graphics card has decreased, as the price of the crypto currency has fallen throughout the year.

Nvidia also brings several chip makers to the pump, while AMD closed by 3.93 percent, Micron fell by 1.22 percent,

The VanEck Vectors Semiconductor Fund, following its development in the sector, fell by 1.78 percent.

Apple, on the other hand, had a better day with an increase of 1.1 percent, but the week ended the week at 5.35 percent after heavy cases on Monday and Wednesday.

Hard for a larger number of giants

However, more than just mentioned technology companies lost in value, fought like Amazon (-1.36 percent), Facebook (-3.02 percent), Netflix (-1.17 percent) and Alphabet (-0, 15 percent), share prices were also strengthened on Friday.

Nasdaq 100, which consists of Nasdaqu's largest companies, excluding financial corporations, fell 0.33 percent

Technological companies have now fought off the Oslo Stock Exchange in October, and the recession seems not to be over.

"Reduction is a consequence of major concerns in key index ingredients, but now there is a danger that the very long period in which the Nasdaq 100 has done better than the rest is the end," said Michael Shaoul, Head of Marketfield Asset Management. CNBC.


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