Thus, the Nasdaq records its second day of declines and extends the drop of the previous day, mainly dragged down by the fall of Meta, which collapses this Thursday after presenting lower-than-expected gains the day before.
Meta will lose about $67 billion in market value if the crash continues during the session, adding to the trillions of dollars some of the biggest tech companies have lost this year given the rise in interest rates and the strengthening of the dollar.
the signature lost more than half a billion dollars in market value this year. Its shares opened this morning at their all-time low of $97.40, but by the middle of the day they settle down to $100.83.
Meta results are produced one day after Alphabet and Microsoft presented discouraging figures, causing a general drop in technology stocks.
The Dow Jones was boosted by the rise in 9.2% of Caterpillar Inc., after it reported an increase in earnings in the third quarter. joined the trend McDonald’s Corp, up 3.6% exceeding quarterly sales estimates.
For its part, Merc & Co Inc gains 2.4% and Honeywell International advances 4.2%both after posting better-than-expected earnings in the third quarter.
The communication services sector S&P 500 falls 2.1% and it was the only one that fell among the 11 main benchmark sector indices.
The actions of Amazon Inc. down 1.6%while those of Apple Inc. they do it in a 1%. Both companies will present their results on Thursday.
In parallel, European stock markets are trading higher after the European Central Bank decided this Thursday to increase the interest rate by another 75 basis points and take it to the range of 1.5% – 2.25%, in a new attempt to contain the inflation in the euro zone, which reached 9.9% year-on-year.
Meanwhile, the expectation is maintained about the decision that the Federal Reserve regarding the interest rate of the United States, after knowing certain economic data of the country: the Gross Domestic Product of the United States grew at an annualized rate of 2.6% last quarter, putting end to two quarterly declines consecutive production losses that had raised fears that the economy was in recession.
Source: Ambito
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