Nasdaq Rises Over 2%
[Asia Economy New York=Correspondent Baek Jong-min] The sell-off in tech stocks eased, leading to a rebound in the New York stock market. The Nasdaq, which had fallen 10% over three consecutive trading days, showed a notable rise.
On the 9th (local time), the Dow Jones Industrial Average closed at 27,940.47, up 439.58 points (1.6%), the S&P 500 index rose 67.12 points (2.01%) to 3,398.96, and the Nasdaq index surged 293.87 points (2.71%) to 11,141.56.
The Nasdaq, which had declined for three consecutive days, led the market with its rebound. Prior to this, the Nasdaq had dropped more than 10% from its recent high over three trading days.
Tesla's stock, which had plunged 21% the previous day, successfully rebounded by 10.9% on this day. Apple’s stock also rose about 4%.
AstraZeneca shocked the market by announcing the temporary suspension of its COVID-19 vaccine clinical trials due to unidentified adverse events among participants, but its stock decline was limited to 1.95%.
Reports that China’s ByteDance is discussing alternatives to a complete sale of TikTok with U.S. authorities affected the stock prices of Microsoft and Walmart, which were considered leading acquisition candidates.
October delivery West Texas Intermediate (WTI) crude oil closed at $38.05 per barrel, up 3.5% ($1.29), and December delivery gold closed at $1,954.90 per ounce, up 0.6% ($11.70).
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
