Friday , October 22 2021

Exit 2008: Wall Street on the verge of another fall



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UNITED STATES, New York.- Stock Indices Dow Jones and Nasdaq cThey have lost the worst week ever since the financial crisis of 2008, with the threat of the federal government on the horizon, the commercial war with China unresolved and fears of a widening recession.

The Dow Jones fell 1.81%, finishing at 22,445.37 points. And the Nasdaq, which is the most important technological index, fell 2.99%, reaching 6,332.99 points. In total during the week, the Dow fell 6.87% and the Nasdaq fell 8.36%. Falls of this magnitude have not been seen for a decade, in the worst of the financial crisis that has shaken the world.

The other benchmark index and for many the most representative of the real market situation, the Standard & Poor's 500 (S & P 500) fell 2.06% to end at 2,416.58 points. In total during the week, fell 7.05%. The last time he fell like this was in 2011.

The technological actions of the big companies of Silicon Valley were the ones that suffered more in recent weeks. Apple lost 3.89% today, Facebook 6.33% and Alphabet (Google) 3.16%.

The situation could worsen if, after midnight on Friday, Congress and the president did not reach an agreement to prevent the closure of the federal government, which would leave more than 800,000 workers without receiving the salary at Christmas.

It did not help even the terrible day of Wall Street the declarations of the commercial adviser of the president, Peter Navarro, referring to what sees very complicated that the United States and China reach an agreement after the 90-day truce that occurred Xi Jinping and Donald Trump, at the G20 summit in Buenos Aires.

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