NY Stock Market Stabilizes After Previous Day's Decline
Gold and Crude Oil Also Start Higher
[Asia Economy New York=Correspondent Baek Jong-min] On the 22nd (local time), the day of the 'Battery Day' event, Tesla's stock price started down 4%.
As of 9:30 a.m. that day, Tesla's stock was trading around $431, down 3.9%. Although it closed higher despite the sluggish New York market the previous day, it turned bearish on this day. In pre-market trading, it even fell by 4.6%.
Elon Musk, Tesla's CEO, mentioned on Twitter that he would purchase more batteries from LG Chem, and the Battery Day announcement suggested that large-scale production would not begin until 2022, which is interpreted as a factor pulling down the stock price.
On this day, the New York stock market started on an upward trend, shaking off the previous day's slump. The Dow Jones Industrial Average, which had plunged 1.8% the day before, rose 0.2%, while the S&P 500 and Nasdaq each increased by 0.5%.
China is reportedly considering placing Cisco on a blacklist in response to U.S. sanctions against its domestic telecommunications equipment company Huawei. However, Cisco's stock opened up 0.69%, showing little impact.
Oracle is slightly down due to reports that China will not approve the sale of TikTok. Apple continues its upward trend with a 1% increase following the previous day.
Gold and crude oil prices, which had fallen sharply amid a strong dollar the previous day, also started higher. International gold prices rose 0.5%, and international crude oil prices increased by about 1%. The dollar index, which indicates the value of the dollar, remained steady at around 93.7, similar to the previous day.
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