NY Stock Market Drops $ 1,190, Marked the Largest Decline at 6:32 on February 28
In the New York Stock Exchange on the 27th, the Dow Jones average share price dropped sharply, with a drop of more than $ 1,190, a record for the day. Concerns over the spread of the new coronavirus have continued to halt the global stock market cascade and the financial markets have been turmoil.
The New York Stock Exchange Dow Jones average closing price was $ 25,766, down $ 1,190,95 cents from the previous day. Price drops are the largest ever.
On this day, the spread of the new coronavirus continued, and in the United States, patients with unknown routes of infection were found. As a result, prices dropped sharply immediately after the start of the transaction, and the rate of decline further increased toward the end of the transaction. The Dow Jones average share price has dropped for the sixth consecutive day.
The decline has been 11.5% since the start of the week, with media reporting that "this has been the case since October 2008, shortly after the collapse of Lehman Brothers."
On the other hand, in the financial market, investors have tried to avoid risk by injecting a lot of money into the bond market, which is considered to be safe. Has also risen to the highest level in seven years.
Crude oil prices also dropped sharply, as demand slowed due to stagnant economic activity. Market officials say, "The spread of the new coronavirus continues, and there is currently no reassuring material. The financial market turmoil will continue for the foreseeable future."
Microsoft and Apple stall
What has had a particularly significant impact is the decline in the stock prices of Apple and Microsoft, the IT giants that have driven stock prices so far. Both companies showed the prospect of worsening business results due to the impact of the new coronavirus.
Of these, Microsoft announced on the 26th that the spread of the new coronavirus could prevent the sales of the PC division for the next three months from reaching the initial forecasts until next month. As a result, Microsoft's share price fell more than 7% on the 27th alone, dropping 11.4% this week.
In addition, Apple, which is said to have the biggest relationship with China in both production and sales, also announced that sales for the next three months until next month could not achieve expectations, and the stock price decline this week was 12.6%. was.
Both companies make up the Dow Jones average share price, with market capitalization numbers one and two among American companies.
Boosted by the stock growth of these companies, Dow Jones averaged a record high of $ 29,551 and $ 42.12 this month. In the stock market, which has plummeted in just two weeks, the supply of parts from China will continue to stagnate, raising concerns that the performance of affiliated companies may deteriorate significantly, and the stock price is likely to remain weak.