Stock Market Update: Decline in Financial and Technological Stocks Drives NYSE Down

2023-10-20 21:14:51

Photo of traders at the New York Stock Exchange

The New York Stock Exchange ended down on Friday, penalized by the decline in financial and technological stocks in a context of risk aversion fueled by the geopolitical context in the Middle East.

The Dow Jones index fell 0.86%, or 286.89 points, to 33,127.28 points. The broader Standard & Poor’s 500 lost 53.84 points, or 1.26% to 4,224.16 points.

The Nasdaq Composite fell 202.37 points (1.53%) to 12,983.807.

In terms of stocks, the financial sector is bearing the brunt of a negative climate linked to the rise in rates.

Bank of America lost 2.41%, while JPMorgan lost 1.61%.

The dollar was down 0.08% against a basket of currencies a few minutes after Wall Street closed, while the euro stood at 1.0594 dollars (+0.14%).

On the bond market, ten-year paper [US10YT=RR] lost 6.8 basis points to settle at 4.9201%. His counterpart at five [US10YT=RR]fell 10.1 basis points to 4.8599%.

(Paris editorial team)

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