New York Stock Market Drops for the first time in 5 days 5:38 on July 17
On the 16th, the New York Stock Market was on the move to secure profits for the time being, followed by sell orders, and the Dow average stock price dropped for the first time in five days.
The closing price of the New York Stock Exchange Dow Average stock price on the 16th was $26,734/71, which is $135/39 lower than the previous day. This is the first drop in 5 days since 9th of this month.
On this day, although retail sales improved above the market's expectations last month, the number of applications for unemployment insurance remained high, and the strength of the announced economic indicators separated, keeping the market profitable for the time being. Selling orders came ahead of the move. In addition, the stock price index of Nasdaq, which has many IT-related stocks, also dropped.
A market official said, “In addition to the fact that the spread of the new coronavirus has not stopped, and the conflict between the United States and China is sharpening, uncertainty about the future of the economy is increasing.”