Saturday , May 21 2022

Wall Street falls by technology stocks – 11/19/2018


NEW YORK (Reuters) – Wall Street closed lower on Monday, reversed by the Nasdaq, who suffered from trade tensions between the United States and China and major technology problems.

Nasdaq technology index rejected 3.03% to 7,028.48 units, according to last session data. Dow Jones's industrial average was 1.56% to 25,017.44, and S & P 500 fell 1.66% to 2,690.73.

The fall after the Asia-Pacific Pacific Summit over the weekend shows that the US-China trade dispute is still alive, and new data has shown a slowdown in US real estate construction plans .

Analysts said the agreements were smaller because this week will be shorter for holiday in the US and this has expanded the market swings.

"There's mostly a wreck of technology stock," said Peter Cardillo from Spartan Capital.

Nasdaq's prominent member, Apple continued to reduce and lose 3.96% after an article in The Wall Street Journal which showed that the group breached production orders for its new iPhone.

Apple shares have dropped more than 20 percent since their historic value on October 3.

Apple's concern has affected semiconductor manufacturers. Nvidia lost 12% after a 28.7% reduction on Friday.

All important technology companies have been punished: Netflix -5.45%, Alphabet (Google) -3.82%, Amazon -5.09% and Facebook -5.72%. The social network had the lowest price since February 2017.

"The movement of the day is explained by technology in general and anxiety about the groups (semiconductors) after strong sales on Friday," said Sam Stovall from CFRA Research.

"There appears to be a general reassessment of actions that have driven most of the flight," he said.

In the debt market, Treasury products dropped 10 years to 3.054%, down from 3.063% on Friday, and Treasury 30% yielded to 3.313% of 3.316% of the last session.

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