The worst hit between the US economy is due to the community pandemic. The lead narrowing in Biden’s poll. And Nancy Pelosi has put in place a deadline for new stimulus measures announced, with all US stocks overturned on Monday. However, Nasdaq is leading the losers on Monday, and the tech-inclusive index was overwhelmed by a fall posted by Big Tech stock.
Nasdaq fell 1.77%, dropping 11,465 points beyond 200 points. After dropping 1.76%, the S&P 500 was behind, falling about 60 points to 3,422. Similarly, the Dow Jones fell 1.60% to 28,147 points.
All US stocks have been reduced by recent data showing the harsh reality of third quarter trading. However, according to Kingswood CIO, Rupert Thompson:
“The US election remains a major focus. The market appears to be favored by the idea of Biden’s victory and the possibility of a clean sweep by Democrats. However, this result is not yet complete with the odds of Biden’s winning betting back from 65% to 60% a week. Thursday’s final presidential “discussion” may still be Trump’s last chance to narrow down polls that support Biden. ”
Nasdaq suffers from sour apples
But what led the particularly sharp decline Nasdaq suffered was a drop posted by Big Tech stocks during trading on Monday. One notable fall was posted by Apple (NASDAQ: AAPL) for around 2.70%, at $115.68 USD, following the first weekend of pre-orders for the iPhone 12.
The low-priced model hasn’t been released for a while, so last Thursday night it was released by the standard model and the professional.
Also, despite sales of 2 million people in the first 24 hours increased from 800,000 on the iPhone 11, TF International Securities Analyst’s Ming-Chi Kuo believes the launch of the iPhone 12 will pretty well oust its predecessor on first weekend bookings. The 11 sold 12 million over their first weekend, but Kuo expects 12 people to sell 9 million, with many Consuemrs waiting for the cheapest models to be released.
Nasdaq may see Amazon from its Prime
Secondly, Amazon (NASDAQ:AMZN) fell 2.00% to USD 3,207.21 on Monday. According to City analyst Jason Bassinet, this could have been led by Amazon Prime Day Trading, worse than Hope.
Amazon is expected to have sold around $10.6 billion in product sales over the two-day sales period, but Citi analysts say this could be the first time since 2015, with Prime Day Sale not breaking Amazon Inhouse records. In 2016 and 2017, the company has had a series of “best days” in history, boasting “biggest shopping events” in 2018 and 2019. However, in 2020, he simply said the sale was “the biggest day ever for a third-party seller.”
“Based on Amazon’s press release and the language of SirseleWeb data, Prime Day 2020 appears to have been not the “largest day of history.” ”
“We don’t want to build mountains out of the mall hills,” writes Bazinet. “We still like Amazon stocks and long-term stories. But we thought the commentary changes were notable and there was a bit of anticipation for the rising expectations of investors about the robust e-commerce trends, and there was a bit of anticipation for the attitude (fourth quarter).”
Elsewhere, Microsoft fell 2.48%, Facebook fell 1.70%, and Alphabet fell 2.41%.
