Record-breaking stock indices have come down as pandemic worries and uncertainty continue.
The United States and European stock markets on Tuesday have been a depressing day.
All three major stock indices in the United States have been declining. Shares in tourism-related companies in particular have fallen since Canada and the United States decided to continue restricting leisure tourism between the two countries. In India, the number of daily corona deaths was reported to have reached a record high.
Shares in airlines and cruise companies received the news, pushing down. For example, the shares of the airline American Airlines, the aircraft manufacturer Boeing and the cruise companies Carnival and Royal Caribbean fell.
“Increasing the number of corona cases around the world is a risk,” says Portfolio Manager at Kingsview Asset Management in Chicago Paul Nolte tells Reuters.
According to Nolte, some investors are now seeking to repatriate returns, as some see that the possibility of economic opening has already been priced in some stocks. Consequently, the prices would have reached their legal point.
The broad S&P 500 index and the large corporate Dow Jones index were down about one percent. The technology-focused Nasdaq index was down 1.25 percent at 21.45 Finnish time.
Same the mood was also felt in European equities.
The Stoxx 600 index of Europe’s largest companies fell 1.9 percent. The drop in one day was the largest in size this year. The rate of decline of the index accelerated after the opening of Wall Street apea.
The Stoxx 600 index has broken its records earlier this month and rose about nine percent during the first half of the year. The New York S&P 500 Index has followed the same trend.
In Europe, all major indices were in the red on Tuesday. Shares of travel companies, banks and insurance companies have fallen after strong rises.
The London Stock Exchange’s FTSE 100 index, on the other hand, was weighed down by the fall in tobacco industry stocks. The index fell two percent, the most in two months. Shares of British American Tobacco (BAT) and Imperial Brands fell more than seven percent. The drop in BAT was the sharpest since March 2020.
Also in Germany, the Dax index fell 1.6 percent and in Spain the Ibex index snapped 2.9 percent, more than ever since December.
In Finland, almost all the most traded shares were in the red at the end of the trading day and the general index of the Helsinki Stock Exchange fell by 1.42 per cent.
#Stock #exchanges #Equities #turned #negative #Europe #indices #falling #sharply #months