Every year in early autumn Apple holds its event where it presents new iPhones, Apple Watches, and iPads. This year wasn’t an exclusion. But yesterday’s presentation didn’t result in Apple stock growth, and here’s why.
US stock indices go down by 2.2-2.3%
On Monday, American stock indices finished a sharp decline due to worse than expected data on the American labor market as well as the risks of introducing new duties on the import of goods from China.
Equities of all 30 firms that were presented in the calculation of the Dow Jones Industrial Average found themselves in the red zone. The overall market value of Boeing sank by nearly 1%, Caterpillar slumped by 1.7%.
As reported, the overall number of jobs in the American economy in March went up by 103 thousand, which appears to be the minimum rate since the autumn of 2017.
Meanwhile, the US President Donald Trump instructed to come up with a plan for the introduction of duties on Chinese exports worth $100 billion aside from previous measures. Earlier, the US authorities announced a plan to introduce a 25% duty on China’s exports for a total of about $50 billion a year.
The Chinese authorities responded by announcing their intention to impose duties on American export stuff for the same amount, reporting their readiness to go to the end literally at any cost to protect their trade interests.
The Dow Jones Industrial Average slumped by 2.34% demonstrating a reading of 23932.76.
As for Standard&Poor's 500, it headed south by approximately 2.19% coming up with 2604.47.
Nasdaq Composite inched down 2.28% ending up with 6915.11.
The shares of the software developer Salesforce.com headed south 2.5% after the company confirmed its intention to place bonds for $2.5 billion with the aim of financing the purchase of competitor Mulesoft for $6.5 billion.
The capitalization of Nvidia, which also manufactures microchips, went down by about 0.8%. By the way, Citron Research experts told they expect the company's shares to dive below $ 200 in the near future.
Richard Branson offloaded nearly 10 million shares, which equals about 4% of the Virgin Galactic stock, leaving him with an 18% stake.
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