New York Stock Market Closes Down, NASDAQ, 1.69% ↓
Major indexes closed lower on the New York Stock Exchange. The volatility market continues while keeping an eye on the trends in US Treasury yields.
On the 2nd (US time) on the New York Stock Exchange (NYSE), the Dow Jones 30 Industrial Average ended trading at 3,1391.52, down 0.46% from the battlefield.
The Standard & Poor’s (S&P) 500 index closed at 3870.29, down 0.81% from the day, while the technology stock-oriented Nasdaq index closed at 13358.79, down 1.69%.
The market is keeping an eye on US interest rate trends, comments from key members of the Federal Reserve System (Fed), and news related to the novel coronavirus infection (Corona 19) vaccine.
On this day, the three major stock indexes started mixed while paying attention to the trend of government bond interest rates.
The 10-year Treasury bond yield, which surged to 1.6% last week, remained at the 1.4% level on the same day and stabilized somewhat.
Major stock indices also surged the day before, but closed down after showing considerable volatility during the day.
There are concerns that interest rates may rise again quickly, and in this case, the stock price may be unstable, mainly for high-value technology stocks.
Technology stocks, which showed a surge the day before, fell all at once. It was evaluated that the burden of overvaluation of technology stocks has emerged again in the market.
Apple’s share price fell 2.09% that day, Amazon.com and Facebook fell 1.64% and 2.23%, and Tesla fell 4.45%.
New York Stock Market Closes Down, NASDAQ, 1.69% ↓ - /10