Wall Street stock strategists disagree on the reasons behind the weak share price development this week.
The United States the stock market’s broad S&P 500 index has been falling for consecutive days in recent weeks. That has not happened since March, according to news agency Bloomberg.
In general, stock strategists are fairly unanimous in the background of general market developments, but now it is not easy to find a reason for the weak development, Bloomberg says.
For Americans, stock strategists ’estimates of the causes range from the worsening of the coronavirus situation and constraint concerns to rising tensions between great powers. An explanation has also been sought from the technical analysis for the fall in the course price at the beginning of the week.
The S&P 500 index fell 0.7 percent on Tuesday and 0.5 percent on Monday after rising Friday. According to the morning quotation of index futures, the US stock market is opening up on Wednesday.
“A weak start to the week is a sign that everyone needs to rest sometimes, even in the market,” said CIBC Canada’s Chief Investment Officer David Donabedian To Bloomberg.
From the beginning of the week, equities, which are expected to benefit from the opening up of the economy and accelerating inflation, were at the top of the list. The prices of these shares have advanced the most in recent months. Examples of such shares are the hotel reservation site Booking and the cruise line Norwegian Cruise Line.
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