Stock Market: The Nasdaq Falling In New York

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Market review. The New York Stock Exchange is still watching bond prices rise, closing lower on Wednesday at the end of a choppy session, with a fresh drop in the Nasdaq.

The Toronto Stock Exchange closed lower on Wednesday, weighed by losses in the IT and materials sectors, which suffered from higher bond yields.


In Toronto, Prof. S & P / TSX Lost 100 points, equivalent to 0.55% to 18,320 points.

In New York, Prof. Standard & Poor’s 500 It decreased 50 points, or 1.31%, to 3,819 points.

The Dow Jones It fell 121 points, or 0.39%, to 31,270.

The Nasdaq It fell 382 points, or 2.93%, to 12,673 points.

The Canadian dollar lost 0.10% to $ 0.7897.

Oil was up $ 1.24, or 2.08%, to $ 60.99.

Gold was down $ 25, or 1.44%, to $ 1,708.60.


Analysts at Wells Fargo said, “Once again, investors have considered higher bond yields.”

Suddenly, tech sector securities, which were said to be growing because these groups were greedy for investments to grow, struggled with the prospect of more expensive leases.

10-year Treasury yields rebounded above 1.47% after closing at 1.39% the previous day.

The money these companies will make is less valuable as interest rates rise. Here’s the basic theory: When prices go up, the markets go down, ”said Gregory Volokin, fund manager at Meeschaert Financial Services.

“But rates are also rising in anticipation of better days,” from here, he says, the reluctance of the markets, which began the week with a massive recovery before retreating sharply on Tuesday.

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On Wednesday, the bourse also digested a weaker-than-expected private sector employment report, ahead of Friday’s official unemployment numbers.

ADP’s private sector survey showed job creation slowed sharply in February, to 117,000 versus 180,000 expected.

A very strong economy in the future

However, analysts believe that the official labor market report on Friday will be more optimistic. They expect 200,000 new jobs in February and the unemployment rate to stabilize at 6.3%.

On the side of the good news, which portends strong growth in the second half of the year, President Joe Biden has confirmed that at the end of May there will be enough vaccinations for all adults in the United States. The previous deadline was at the end of July. Pfizer Jumped 2.63%, Johnson & Johnson It decreased by 1.76%.

In addition, the massive $ 1.9 trillion economic support plan has come close, although it may come in a smaller amount.

This made Jimmy Dimon, chief executive of GBMorgan Chase, say on CBS that with the subsidy plan, it was necessary to anticipate “a very strong economy at the end of the year and the beginning of next year.”

While the financial, energy and industrial sectors performed well, technology stocks, such as Apple, city, cat (-2,45%), The social networking site Facebook (-1,39%), Microsoft (-2.70%) or Square (-7,14%).

Very visited, application work Zoom in It lost 8.37%, down from -9% the day before, when it announced that its sales volume had tripled in 2020.

Address Lifts It was up 8.24% after the chauffeur-driven car rental service posted its best shopping week since the start of the pandemic at the end of February.

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Online mortgage lender work Missile companiesHobbyist brokers, which have earned the appreciation of amateur brokers in internet forums, have continued to fluctuate, dropping by over 32% after shutting down 71% the day before.

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