Yesterday, the US stock market showed a fairly significant decline. It happened because of trade disagreements between the US and China.
Against this backdrop, the Dow Jones Industrial Average is falling for the eighth trading session in a row. Last time the market experienced such a prolonged fall in March last year.
Another significant index Standard & Poor’s 500 has shown the biggest intraday drop since the beginning of summer.
Eight industry groups included in the S & P 500 fell yesterday, energy and industrial companies showed the strongest decline.
As for specific companies, the situation for yesterday’s decline is as follows:
- Amazon.com shares fell by 1.1%;
- Shares of Boeing Co. – by 1.5%;
- Caterpillar Inc. – by 2.5%;
- eBay Inc. – by 3.2%;
- 3M Co. – by 1.3%.
The company Intel Corp. has also suffered. The quotations of its shares have decreased by 2.4%. The experts say that the news of the resignation of Brian Krzanich, who served as chief executive officer, became a reason for this fall.
Capitalization of Starbucks Corp. has decreased by 3.1%, this happened because the rating agency Moody’s Investors Service downgraded the company’s rating. The drop from rating “A3” to “Baa1” rating happened because it had become known that the company planned to pay the shareholders twice as much as previously thought.
The Company Micron Technology Inc., Darden Restaurants Inc. and Kroger Co. can be mentioned among the successful companies in the market. The shares of the first of them have increased by 0.8%, the second – by 14.8%, the third – by 9.7%. All the three companies have grown on strong quarterly statements.
The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade