The Stock Exchanges in New York Started Trading Day With Small Losses

0 1,583

The stock exchanges in New York started the trading day with small losses on Tuesday. Investors in New York are looking a bit for direction, after the sharp recovery from a day earlier.

 

Wall Street continues to follow the developments around the new coronavirus.

The Dow-Jones index fell 0.7 percent in the first trading minutes to 26,512 points. The broad S&P 500 fell 0.6 percent to 3070 points, and technology grant Nasdaq dropped 0.5 percent to 8911 points. Last week, the most significant losses since the financial crisis were suffered by fear of the virus.

The Australian Central Bank already came with an interest rate cut because of the virus. In response, President Donald Trump called on the Federal Reserve to come up with a “big” reduction in interest rates.

The American umbrella organization of central banks stated earlier that it was ready to take action against the economic consequences of the virus. The European Central Bank (ECB), the Bank of England and the Bank of Japan have also said they are ready to take measures.

The group of rich industrialized countries of the G7 also stated that it was prepared to act to mitigate the economic impact of the virus, but did not announce any concrete steps.

A credit card company has also come up with a sales alarm because of the virus outbreak. The credit card company points out that especially in the travel industry, the number of payment transactions has been under pressure lately due to the illness. The stock recorded 0.7 percent in the minus shortly after the opening bell.

Leave A Reply