Wall Street closes lower, coronavirus still worries

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WALL STREET FENCE DOWN

NEW YORK (Reuters) – After yesterday’s records, the New York Stock Exchange ended lower on Tuesday, reacting to an increase in the number of cases of coronavirus contamination, the effects of possible re-containments and bad news on the front lines macroeconomic.

The Dow Jones index fell 167.09 points, or 0.56%, to 29,783.35.

The larger S & P-500 lost 17.38 points, or 0.48%, to 3,609.53.

The Nasdaq Composite for its part fell by 24.79 points (-0.21%) to 11,899.34 points.

The euphoria of the day before, carried by the announcements of the biotechnology group Moderna on its experimental vaccine against the coronavirus, gave way to profit taking but also to new concerns about the health crisis.

“This will be the vaccine against the virus, we’ll be going back and forth until we get to the point where the vaccine comes out,” said Joseph Sroka, director of investments at NovaPoint in Atlanta.

In terms of macroeconomic indicators, retail sales in the United States disappointed investors, increasing less than expected in October and could slow further due to the resurgence of contamination by the coronavirus and the decline in household income with the end. government budget support.

The Federal Reserve also reported a 1.1% increase in industrial production in the United States in October, accelerating compared to September (decline of 0.4%).

The increase in new cases of COVID-19 could, however, cause disruption in factories and jeopardize the recovery.

At the start of the session, the main indices had opened in the red. A few minutes after the opening, the Dow Jones index lost 1.17%, the Standard & Poor’s 500 fell 0.76% and the Nasdaq Composite was in near equilibrium (-0.09%).

At the time of the European close, the Dow Jones lost 0.66%, the S & P-500 0.45% and the Nasdaq 0.33%.

At values, Amazon.com takes 0.15% after announcing the launch of an online pharmacy for the delivery of prescription drugs in the United States, thus stepping up competition with drug distributors such as Walgreens, CVS and Walmart .

The Walmart store chain, which on Tuesday reported a 6.4% increase, more sustained than expected, in its sales excluding fuels on a same-store basis in the United States for the quarter ended at the end of October, nevertheless ended down by 2%.

(French version Camille Raynaud, edited by Henri-Pierre André)

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