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US stock exchanges close with losses

by alex

The US stock exchanges closed with losses on Monday. The Dow Jones fell 1.25 percent to 30,223.89 points. The market-wide S&P 500 closed 1.48 percent lower with 3,700.65 meters. The Nasdaq Composite lost 1.47 percent to 12,698.45 points.

In view of the corona vaccination campaigns starting around the world and the prospect of an economic stimulus package, the stock exchanges initially started with new records, but fell sharply into the red as trading continued. In view of the uncertainties about the upcoming Senate elections in the US state of Georgia and the concern that the corona contagion numbers have presumably increased even more significantly over the holidays, many investors had taken profits, it said.

The election of the two senators in Georgia determines the political majority in the second chamber of parliament. In the House of Representatives, President-elect Joe Biden's Democratic party comrades hold a majority.

Among the individual values, the electric car manufacturer Tesla was once again worth a look with its ongoing record hunt. Unlike the market, the stock held gains, rising 3.42 percent to just under $ 730. Tesla delivered almost half a million vehicles in 2020, more than ever before.

In contrast, a 41 percent drop in the price of the lithium battery manufacturer Quantumscape destroyed a large part of the previous week-long soaring of the share. The fault was disappointed hopes that Apple could rely on Quantumscape's products for its electric car project.

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