Sunday , August 1 2021

Wall Street slumped due to a decline in Apple shares

The Dow Jones Industrial Average lost 602.12 points, or 2.32 percent, to close at 25,387.18. The S & P 500 lost 54.79 points, or 1.97 percent, to 2,276.22 units. The Nasdaq Composite index lost 206.03 points, or 2.78 percent, to settle at 7,200.87 units.

Apple shares fell 5.04 percent to close at $ 193.46 per share after leading face recognition technology provider Lumentum Holdings cut earnings and forecast earnings by citing declining customer orders. important

Some analysts point out that iPhone manufacturers are important customers that are not mentioned. Laumentum Holdings shares fell around 33 percent.

Ten of the 11 main S & P 500 sectors were closed. The consumer discretionary and technology sectors recorded a decline of 3.54 and 2.31 percent, respectively, to lead slowly.

The actions of many technology giants in the United States suffered heavy losses.

Align Technology and NVIDIA shares lost 7.91 and 7.84 percent, respectively, and among those who had the worst performance on the Nasdaq. Amazon shares and Alphabet lost 4.41 and 2.58 percent, respectively.

Large banks also have poor performance. Goldman Sachs lost 7.46 percent and JPMorgan Chase fell more than two percent.

"The US dollar is too strong and we can see how this affects US companies in their sales abroad, and banks are sold because there are also very good benefits from the recovery after the election," John Monaco told Xinhua. operator from Wellington Shields & Co. LLC.

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