The Dow Jones New York stock market index closed further on Friday (July 19) amid confusion caused by global technology disruptions caused by a software glitch. This makes an already excited market even more uncertain.
The Dow Jones Industrial Average was down 40,287.53 points, down 377.49 points or -0.93%, the S&P 500 Index was down 5,505.00 points, up 39.59 points or -0.71%, and the Nasdaq Index was down 181 points or -0.71%.
This week, the Nasdaq and S&P 500 indexes posted their sharpest weekly declines since April. Earlier that week the Dow Jones index hit new record highs. Fixed this week
Among the 11 sectors in the S&P 500 index, energy stocks fell the most. Meanwhile, only two groups, the Healthcare group and the Utilities group, rose up against the market.
A software glitch by cybersecurity firm CrowdStrike crippled Microsoft's Windows operating system, affecting operations across multiple industries. Including airlines, banks and healthcare.
Even if the error is found and corrected. But technical issues still affect some services.
Crowdstrike shares fell 11.1%, while shares of cybersecurity rivals Palo Alto Networks and SentinelOne rose 2.2% and 7.8%, respectively.
The market volatility index, which is seen as a measure of investor anxiety, hit its highest level since late April.
Chip stocks fell on selling pressure. Meanwhile, the Philadelphia Semiconductor stock index fell 3.1%, led by Indian stocks.
Netflix shares fell 1.5% in choppy trading. After the company warned that the number of subscribers in the third quarter will be lower than last year.
John Williams, president of the Federal Reserve Bank of New York, reiterated the central bank's commitment to bringing inflation back to its 2% target.
CME's FedWatch tool indicates that financial markets expect a 93.5% chance of cutting interest rates at its September meeting.
Investors will be watching for earnings releases from Tesla, Alphabet, IBM and General Motors next week.
By InfoQuest News Agency (20 July 2024)
Tags: Dow Jones, Dow Jones, Stock Market, New York Stock Exchange
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