The stock exchanges in New York closed considerably lower on Friday. Just like a day earlier, sentiment was again depressed by concerns about the new corona virus and the economic consequences of the ongoing outbreak. Investors also focused on, among other things, operating results such as those of tractor builder Deere.
The Dow-Jones index closed 0.8 percent lower at 28,992.41 points. The broad-based S&P 500 lost 1.1 percent and stood at 3337.75 points. Nasdaq tech fair fell 1.8 percent to 9576.59 points.
The number of infections and deaths in China as a result of the Wuhan virus has risen again, while more people such as South Korea are also becoming infected. Japan reported disappointing figures on economic activity, showing that the virus has a negative impact on the Japanese economy.
Soft drink producer Coca-Cola (plus 0.7 percent) expects the impact of the virus to affect results in the first quarter, including a lower sales volume. The forecasts for the entire year are still being maintained. China is the third largest market for Coca-Cola when it comes to sales volumes.
The manufacturer of agricultural machinery Deere is less gloomy about the trade tensions between China and the United States. Now that the two superpowers have entered into a partial trade agreement, according to Deere American farmers are looking to the future with a little more confidence. The figures were better than expected and Deere was set 7 percent higher.
EBay internet auction site rose 1.4 percent. According to media reports, the company wants to sell its online advertising division.
Cloud storage service Dropbox thickness 20 percent after opening the books. The maker of fitness trackers and smartwatches Fitbit (plus 0.2 percent), which is being taken over by tech giant Google, saw sales fall. The company also suffered a loss.
The euro was worth $ 1.0849 against $ 1.0850 at the close of the European stock exchanges. A barrel of American oil cost 1 percent less at $ 53.35. Brent oil was 1.6 percent cheaper at $ 58.38 per barrel.
Abaigael Schlomski is an accomplished economist and financial journalist with over a decade of experience in the industry. He is a regular contributor to EconomicInform, where he provides in-depth analysis and expert commentary on the latest economic trends and events. With a keen understanding of the financial markets and a talent for breaking down complex economic concepts for a general audience, Maurice is a trusted and respected voice in the field.