Nervous day on Wall Street. New Covid variant and sharp drop in Tesla

The Dow Jones was the only Wall Street index to close on the green, up 0.12% to 30.21645 points. Last Friday, he set a record 30,343.59 points.

The Dow Jones was consistently entering negative and positive territory in the last hour of trading and managed, in just one minute, to hold its breath and finish slightly higher, out of optimism that the economy was boosting.

However, Standard & Poor’s 500 lost 0.39% to 3,694.92 points. In the previous session, he had reached the highest value in his history, with 3,726.70 points.

The Nasdaq Tech Composite fell 0.10% to 12,742.52 points after setting a new all-time high on Friday at 12,809.60 points.

The main Wall Street stock indexes have had a turbulent session as fears of a new variant of the coronavirus weigh on sentiment and eclipse the new U.S. pandemic stimulus package that was agreed on Sunday night in Washington and is expected to be approved this evening.

This is the second government stimulus plan in the event of a pandemic. Members of US Congress involved in the negotiations eventually came to an agreement for this $ 900 billion covid-19 aid package, with only the go-ahead in Congress.

The Chamber of Deputies must approve today and then move on to the Senate.

The initial value Democrats wanted was a bundle of at least $ 1 billion, but Republicans did and ended up shrinking. Nonetheless, the hope that the company will finally see the light of day has encouraged investors, with the banking sector being the biggest winner.

Despite optimism over the approval of this new aid to the economy, Tesla’s negative weight ended up putting pressure on the Nasdaq and S&P 500, closing 6.49% at $ 649.86 on the day of its debut on the big 500 index – and which ended up leading the index falls.

Tesla misses debut on S&P 500

Tesla fell in its debut at the Standard & Poor’s 500, following the trend of the rest of the market mainly over fears over the new variant of the coronavirus that has emerged in the south-east of England – and which has occupied dozens of people. countries in Europe, the Middle East and the Americas to announce a ban at its airports on British flights.

The electric vehicle maker led by Elon Musk had gained space before being included in the index. By the end of Friday, Tesla shares traded on the Nasdaq had risen 70% since November 16 – the day it was announced that the listed company would be part of the S&P 500.

Besides market pessimism, Tesla’s crash on the first day of trading the S&P 500 is no surprise. Lindsey Bell, chief investment strategist at Ally Invest, told CNN that similar declines were seen when other large companies listed on this index debuted, such as Facebook in 2013 and Yahoo (now owned by Verizon ) in 1999.

It’s a shorter week for markets, with squares across the Atlantic closing on Christmas Day and closing the day before (Thursday). The fact that this is a full week of vacation leads to a drop in the volume of transactions.

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