Market news
12.11.2018, 21:10

Major US stock indexes finished trading in negative territory

Major US stock indexes have fallen significantly, as the fall in shares of Apple Inc after the weak forecasts of the company's two suppliers had a negative impact on the technology sector.

Lumentum, a supplier of three-dimensional laser sensors for Face ID on the iPhone, lowered forecasts for the main financial indicators for the current quarter due to a request from one of its largest buyers to significantly reduce shipments in this period. It is assumed that this buyer is most likely Apple.

Market participants also drew attention to the statements of the Federal Reserve Bank President Mary Daly, who noted that the situation in the economy speaks in favor of a further increase in interest rates. “The current economic situation in the United States is“ extremely positive, ”whereas the target levels of employment and inflation rates that are provided for by the Fed’s mandate are practically achieved, which speaks in favor of a gradual normalization of monetary policy, she said.

Most of the DOW components showed a fall (26 of 30). The growth leader was the shares of The Coca-Cola Company (KO, + 0.56%). The Goldman Sachs Group, Inc. shares turned out to be an outsider. (GS, -7.62%).

Almost all sectors of the S & P finished trading in the red. The largest decline is shown by the technology sector (-2.2%). Only the utility sector grew (+ 0.1%).

At the time of closing:

Dow 25,387.18 -602.12 -2.32%

S & P 500 2,726.22 -54.79 -1.97%

Nasdaq 100 7,200.87 -206.03 -2.78%

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