[Asia Economy New York=Correspondent Baek Jong-min] Disappointment over employment indicators and a decline in tech stocks dragged the New York stock market down again.
On the 10th (local time), the Dow Jones Industrial Average fell 405.89 points (1.45%) to close at 27,534.58, the S&P 500 dropped 59.77 points (1.76%) to 3,339.19, and the Nasdaq fell 221.97 points (1.99%) to 10,919.59.
The Nasdaq, which had rebounded the day before, fell sharply again, signaling that the tech stock correction is not yet over.
Leading stock Apple showed a rise of over 2% early in the session but reversed to a decline in the afternoon, ending down 3.3%.
Tesla also showed extreme volatility, rising as much as 9% during the session before reversing to a decline. Tesla’s stock closed up 1.4%. Tesla’s shares have been unstable for consecutive days, falling 21% two days ago and then rising nearly 10% the day before.
On the same day, hydrogen truck maker Nikola’s stock fell 11% amid a short-selling attack. This was interpreted as a reaction to a report by a short-selling investment firm claiming Nikola’s business is a complex fraud based on dozens of lies. Previously, Nikola’s shares had surged 34% on news of GM’s 11% stake participation.
October delivery West Texas Intermediate (WTI) crude oil closed down 2% ($0.75) at $37.30 per barrel. December delivery gold closed up 0.5% ($9.40) at $1,964.30 per ounce.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
