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Wall Street: The week starts on a cautious note

18/05/2021
Categories: Economy/Forex

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The New York Stock Exchange remains weighed down by inflationary fears. In business news AT&T (-2.7%) confirmed the spinoff of its subsidiary WarnerMedia in the context of a merger with Discovery (-5%) amid increased competition in the world of video streaming .

At the close, the Dow Jones index fell 0.16% to 34,327 points, while the broad S&P 500 index fell 0.25% to 4,163 pts, and the Nasdaq Composite, rich in technology and biotech stocks , fell 0.38% to 13,379 points.
The Dow Jones had dropped 1.1%, while the S&P 500 had fallen 1.4% over 5 sessions. The Nasdaq had dropped 2.3%, and has now chained 4 weeks of decline in a row. It has lost 5.3% since its last record recorded on April 26, at 14,138 pts.
Among the biggest declines of the day are Walt Disney, which lost 2% after -2.6% already on Friday, following the announcement of a slowdown in subscriptions to its streaming video services. Among the big "techs", Apple lost 0.9%, Microsoft 1.2%, Salesforce 1.2% and Tesla fell 2.2%. In contrast, Amazon gained 1.4%.

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