Tuesday, February 20

The Stock Exchanges in New York Were Opened in Red on Tuesday

The stock exchanges in New York were opened in red on Tuesday. Technology giant Apple’s sales warning pushed the vote because of the negative impact of the new coronavirus.


Suppliers from Apple and chip funds had to take losses as a result. Monday Wall Street remained closed for President’s Day.

Shortly after the start, the Dow-Jones index was 0.3 percent lower at 29,308 points. The broad-based S&P 500 fell 0.3 percent to 3371 points and technology level meter Nasdaq fell 0.3 percent to 9704 points.

Apple said it would not meet its sales forecast for the current quarter because the virus is hitting the demand for iPhones in China. According to Apple, it takes longer than expected for the situation in China to return to normal.

The company also suffers from disruptions in the supply chain, with the result that there are temporary shortages of iPhones elsewhere in the world. Apple has many suppliers in China and starting production takes longer than expected, the company said. Apple lost 2.1 percent.

Suppliers such as Qualcomm, Broadcom, Qorvo and Skyworks Solutions were lowered by 2.3 percent. Chip funds such as Nvidia, Intel and Applied Materials fell to 3.4 percent.

Supermarket concern Walmart came with figures.

In addition, comparable store sales in the holiday season turned out to be weaker than expected. Walmart nevertheless won 1 percent. Food producer Conagra Brands came with a profit and sales warning for the entire financial year due to disappointing demand and was lowered by 6 percent.

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