Stock Market: New York and Toronto Fall Again

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Market review. The New York Stock Exchange, which started slightly lower, extended its losses on Thursday at the close, with the idea that the Biden administration could impose bigger taxes on capital gains for the richest, according to the press.

Blush on the Toronto Stock Exchange on Thursday over base metals and the energy sector.


In Toronto, the benchmark S & P / TSX It fell 111 points, or 0.58%, to 19,031 points.

In New York, Prof. Standard & Poor’s 500 It fell 38 points, or 0.92%, to 4,134 points.

The Dow Jones It lost 321 points, or 0.94%, to 33,815 points.

The Nasdaq It fell 131 points, or 0.94%, to 13,818 points.

The Canadian dollar 0.05% yield to $ 0.79972.

The oil $ 0.31, or 0.51%, to $ 61.66.

L ‘or It decreased $ 9.40, or 0.52%, to $ 1.783.70.


This is the third losing session of the week for the four major indices.

The exchanges, which had been hesitant at the start of the session, hastened their course in the red at midday after press reports indicated that the US government would consider raising the capital gains tax for the richest.

According to the New York Times and Bloomberg, stock market transaction earnings could thus be taxed at a rate of 39.6% instead of the current 20% for people with annual incomes over $ 1 million.

In response to a question by Agence France-Presse, the US Treasury Department has not commented on the project, which could be announced next week, according to media.

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Joe Biden had indicated during his campaign that he wanted to increase taxes on the rich. He’s already proposed raising the corporate tax rate to fund his $ 2 billion infrastructure plan.

Patrick O’Hare of Briefing.Com commented that the possibility of raising taxes on financial gains “has been reminded in the markets and now this idea will remain in the air.”

“Even if we expected it to, this would be a problem for the market,” said Quincy Crosby of Prudential.

Investors are also watching developments around the world with COVID-19 and its impact on the global recovery outlook.

As India continues to plunge into a major health crisis with the disease re-emerging exponentially due to a mutation in the virus, this Indian variant was discovered in Belgium on students who passed through France.

In addition, with regard to vaccinations, the British authorities announced that they had identified 168 major cases, including 32 deaths, from blood clots in the United Kingdom in patients who received the AstraZeneca vaccine.

Quincy Crosby commented, “There is always a fear that the variants will migrate to the United States.” And when the problems with vaccines persist, they negatively affect the market. The analyst pointed out that the market wants to witness the introduction of more vaccines and not the withdrawn or suspended vaccines.

All eleven sectors of the S&P 500 ended in the red, and nearly half of them were down by more than 1%, including energy, information technology and banking.

Among the works of the day, the titleAmerican Airlines a baissé de 4,47% après avoir annoncé une perte trimestrielle pourtant moins forte que prévu à 1,25 milliard de dollars sur un chiffre d’affaires en chute de 53% par rapport à la même période l’année dernière, juste avant la Epidemic.

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The big names faded into Techno, too, Tesla (-3.28%) to Amazon (-1.58%) even The social networking site Facebook (-1.64%) and The Google (-1,11%).

Indicator barely Which measures volatility on Wall Street jumped 7%.

The 10-year Treasury yield fell to 1.54% as the European Central Bank (ECB) confirmed that it is maintaining its ultra-accommodative monetary policy.

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