The wall street stock market opens lower this Tuesday, March 5, in a context in which the investors they kept prudent in a week full of economic news and with two speeches by the chairman of the Federal Reserve, Jerome Powellon agenda.
In that framework, the Nasdaq Composite drops 275.07 points or a 1.7%to 15,937.90 units. Thus, register your biggest daily drop in three weeksfrom the February 13thwheel in which plummeted 1.8%.
For his part, the S&P 500 index lost 42.59 pointsor a 0.8%to 5,088.61 units. While the Industrial Average Dow Jones gives up 240.31 pointsor a 0.6%to 38,752.82 points.
He Nasdaq had started March marking a intraday all-time high on Friday and also closing on its highest level for the second consecutive day last Mondaywhile technological advancement driven by artificial intelligence continues to steal the spotlight on Wall Street.
He S&P 500 was also recently in a Winning streakgoing forward more than 21% in four consecutive months of profits to February.
Wall Street falls due to a sharp decline in the Nasdaq: in what context?
This week will be in the Congress he Fed chairmanon Wednesday at House of Representatives and on Thursday at Senate. On Thursday the monetary policy meeting of the European Central Bank (ECB).
Wall Street also wait for Target supermarket results on Tuesday and costco on Thursday, and monthly employment report in the United States on Friday.
Last Monday, the S&P 500 index closed slightly lower this Monday on Wall Streetafter reach a recordwith advances by chip companies partly offsetting weakness in Manzanawith investors awaiting economic data and testimony from the Fed chair, Jerome Powell before Congress.
The mega-cap company Manzana lost land after the antitrust fine of US$2,000 million imposed by the European Union for preventing Spotify and other music streaming services from informing users of payment options outside of their App Store.
But stocks tied to chips, including Nvidiathey helped the S&P500 will hit an intraday record, since investors continued to bet on the demand for products that drive artificial intelligencedespite the general caution prior to knowing the economic data.
Investors are awaiting information on the health of the US economy based on key monthly datasuch as readings on the services sector, which will be released on Tuesday, and nonfarm payrolls data that will be released on Friday, according to Scott Wren, senior global market strategist at Wells Fargo Investment Institute.
Source: Ambito
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