NY.- Despite opening higher, the New York Stock Exchange ended lower on Wednesday, amid investor nervousness following Monday’s collapse in international stock markets.
The Dow Jones index fell 0.60 percent to 38,763.45 points; the Nasdaq technology index fell 1.05 percent to 16,195.81 points; and the S&P 500 fell 0.77 percent to 5,199.50 points.
Among the stocks of the day, Disney fell 4.47 percent to $85.95, despite making a profit in the last quarter ending in June and an increase in its revenue even above what the market expected.
Several stocks in the tourism sector collapsed, such as Airbnb (-13.38 percent) and TripAdvisor (-16.7 percent).
Shares of Expedia and Bookings ended down more than 3 percent.
Some of the tech giants that drove the Nasdaq higher at the opening also fell. Nvidia lost 5.08 percent, Meta 1.05 percent and Tesla 4.43 percent.
The VIX index, known as the “fear index” for its indicator of market volatility, rose again.
Wall Street opened positively after reassuring statements from the Bank of Japan (BoJ).
A governor of the Japanese bank, Shinichi Uchida, indicated that the bank would not raise its rates “when financial markets are unstable.”
On Monday, expectations of further rate hikes by the BoJ boosted the yen and curbed speculative “carry trade” operations, which consist of taking Japanese debt at a low rate to invest in assets such as stocks with a potential for high returns. These factors sent global stock markets into a tailspin.
For Steve Sosnick of Interactive Brokers, “after an event like the one at the beginning of the week, it is normal for the market to be unstable.”
LBBW’s Karl Haeling believes that the carry trade has continued to slow down and that many positions built on this mechanism are still being unwound.
Wall Street indices reversed trend after a broadcast of
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