Apple, Goldman Sachs sends Wall St Clicking – Business News


NEW YORK: The main Wall Street indices fell on Monday when the shares of Apple Inc and Goldman Sachs Group Inc. withdrew the technology and financial sector.

With Monday's loss, all three indices chose from their short rally after the US election in the Congress on November 6th.

Apple's shares fell by 5.0 percent across multiple suppliers to the company, including Lumentum Holdings Inc., whose components comprise Face ID technology, reduce their forecasts. The downfall of Apple was hampered by the technologically difficult Nasdaq, which fell by more than 2 percent.

Laktum shares fell 33.0 percent. There have also fallen shares of several chippers that sell to Apple, such as Cirrus Logic Inc., Qorvo Inc. and Skyworks Solutions Inc. The Philadelphia SE Semiconductor index fell 4.4 percent.

"Concerns are associated with global economic growth, in particular requirements for products like companies like Apple," said Kate Warne, an investment strategist at Edward Jones, St. Louis. "Investors are becoming more concerned about companies with growth rates and will continue to grow at that rate."

Goldman Sachs shares fell 7.5 percent after Bloomberg reported that Malaysian Finance Minister Lim Guan Eng said the country was seeking a full reimbursement of all fees paid by Wall Street to the bank to handle billions of dollars of deals for a troubled state склад 1MDB. Goldman Sachs was the biggest rebellion in Dow, which fell more than 2 percent.

Among the 11 major sectors of the S & P 500, technology and financial stocks are the most heavily burdened. The S & P 500 technology sector index fell by 3.5 percent, while the index of the financial sector fell by 2.0 percent.

Energy stocks also accelerated their decline towards the end of the session, as oil prices fell.

"It seems that the path of least resistance is lower at the moment," said Peter Jankovskis, chief investment manager at OakBrook Investments LLC in Lisle, Illinois.

The Dow Jones Industrial Average dropped by 602.12 points. By 2.32 percent to 25,387.18, the S & P 500 lost 54.79 points, 1.97% to 2.726,22; Nasdaq Composite 206.03 points or 2.78% to 7,200.87 points.

The holiday in US bond markets for the veterans day kept the volume of trading. The volume on US stock exchanges amounted to 730 billion shares, compared with an average of 8.41 billion in the past 20 trading days.

General Electric Co shares fell by 6.9 percent after CEO Larry Culp said that the company was burdened with too much debt and necessarily sold assets to reduce leverage. For the first time since March 2009, Shares fell below $ 8.

The downturn has surpassed progress on the NYSE with a ratio of 2.80 to 1; on Nasdaqu, 3.64 vs. 1 ratio favored landfills.

The S & P 500 has released 29 new 52 weeks high and 10 new lows; Nasdaq Composite recorded 25 new highs and 161 new lows. – Reuters

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