Wednesday , July 28 2021

Wall Street has again fallen from technology companies



Wall Street closed Tuesday with strong losses for the second consecutive session, while the Industrial Dow Jones index, its main index, fell 2.21 percent by wiping out the cumulative increases of the year amid a general downturn in the technology sector.

Energy stocks collapsed along with oil prices, while those related to the retail trade also fell with low profits, which satisfied the worries about economic growth in the United States.

In this way, the main indicators went into negative territory for the whole of 2018: Dow depreciated by 1.03% and S & P 500 by 1.19% in January.

On the other hand, the Nasdaq composite index fell by 1.70% on Tuesday and is also close to red, as its annual advance dropped to 0.08%.

The big technology companies quoted in this index and responding to the initials "FAANG" have already fallen by 20% of the peak reached in the last 12 months, which analysts consider to be a "bear stage"

These are Facebook (+ 0.67%), Amazon (-1.11%), Apple (-4.78%), Netflix (-1.34%) and Alphabet (+ 0.29%), Google's matrix. session with a slight rise.

By sector, the technology sector decreased by 2.14%, almost like that of non-essential goods (-2.18%), but the most affected was energy (-3.29%), related to the decrease of oil prices on the international markets.

The Texas barrel fell by 6.64% (53.43 dollars) and Brent reached 6.44% (62.65 dollars), amid fears of a slowdown in the global economy, which reduced the growth of oil demand and future oversupply,


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