Nasdaq Composite, Tech and Growth Stock Heavy Index, escaped the market correction on Thursday.
European stocks fell sharply in the morning, with DAX and CAC down 0.88% and 0.67% respectively. Below is FTSE, which extended yesterday’s losses and reduced by 0.80% as we suffered a 5% loss by Kinghisher and Johnson Matthey.
Speaking about the sour atmosphere beyond stocks, IG Chief Market Analyst Chris Beauchamp said, “After the past two weeks of surge, stocks appear to be richer validated and therefore vulnerable to bad news outbreaks.”
“This is exactly what we’ve got in the US in the form of spreading in Japan. This is a worrying sign for a country that managed to control the spread earlier this year.”
“Even reports of the success of AstraZeneca’s new vaccines have not been sufficient. The announcement of these vaccines has been declining since the first, excited, recorded news from Pfizer almost three weeks ago.”
“There seems to be little desire to chase stocks at these levels, and as perhaps right, the market is at the price of perfection and still appears vulnerable to short-term turbulence.
On the pond, Dow Jones poured 0.13%. Interestingly, the Nasdaq bounced back by about 0.60%. This was driven in part by some modest profits, as Amazon, Apple and Facebook all rose by around 0.40%, Microsoft bounced 0.85%, Alphabet rose by 1%, and Amazon, Apple and Facebook all rose by 2017.
Other interesting developments rose 28% from Sonos, while Hot Stocks Nio bounced 7%. In the meantime, Wayfer and Essie have soared on Black Friday and Christmas Holidays, each up by about 6%.
