Wall Street closed this Friday with significant losses in a day with bad news for corporate benchmarks such as Boeing, Johnson & Johnson and Netflix.
At the end of trading on the New York Stock Exchange, the Dow Jones Industrials dropped 0.95% or 255.68 points to 26,770.20 units, while the selective S&P 500 lost 0.39% or 11.75 whole, to 2,986.20 points.
The composite index of the Nasdaq market, in which the main technologies are quoted, experienced a decrease of 0.83 % or 67.31 units and ended in 8,089.54 whole.
The Dow Jones fell sharply affected by heavy losses at Boeing (-6.79%) and Johnson & Johnson (-6.22%), on a day when the New York Stock Exchange was also pressured by a decrease in Netflix shares (-6.15%), which dragged other high-tech stocks down.
In the case of Boeing, the market reacted to the fact that on Friday the US government asked the aeronautical giant for explanations for allegedly having hidden for months that two members of the company were concerned about the stabilization system of the controversial model 737 MAX aircraft, which once caused two fatal accidents.
The withdrawal of confidence in the bag in the case of Johnson & Johnson is due to the fact that the pharmaceutical announced on Friday the withdrawal of a batch of baby powder after the authorities found traces of asbestos in the product, an issue that persecutes the multinational and undermines its credibility.
In total, Friday’s losses wiped out Dow’s profits for the week.
Likewise, Netflix shares fell more than 6%, while Facebook fell 2.2% and Amazon 1.6%. Alphabet shares (Google’s parent company) fell 0.4%.
In this context, the vast majority of sectors ended the day in red, with technology (-0.91%) leading, followed by industrial (-0.87%), communications (-0.87%), energy (-0.54%) and health (-0.34%).
Only four sectors closed in green, with real estate (0.98 %) standing out.
Among the 30 companies listed on the Dow Jones of Industrials, the losses of Boeing (-6.79 %), Johnson & Johnson (-6.22 %), American Express (-1.96 %) and Microsoft (-1.63 %) stood out.
In the green zone, Coca-Cola (1.84%), as a reward for good quarterly results, Verizon (1.06%), Merck (1.05%) and McDonald’s (0.80%) stood out.
In other markets, Texas intermediate oil fell by 0.3% to $53.79 a barrel and at the close of Wall Street, gold fell to $1,493.70 an ounce, the yield on the 10-year Treasury bond stabilized at 1.75% and the dollar lost value again against the euro at an exchange rate of 1.1166. EFEUSA