American stock indices decline at the start of trading

American stock indices decline at the start of trading

American stock indices decline at the start of trading

American stock indices declined during trading on Thursday, pressure on the market is exerted by falling shares of large technology companies and conflicting signals regarding the timing of the availability of the coronavirus vaccine for the population. On Wednesday, stock indices changed in different directions on the basis of the results of the meeting of the US Federal Reserve System (FRS).

As reported, the new strategy, approved by the Fed in late August, provides for a change in the central bank's approach to inflation targeting. The Fed will aim to achieve an average inflation rate of 2% “over a period of time.” In a text released at the end of the July meeting, the Fed announced that it intends to maintain the target range of the federal loan rate at 0-0.25% per annum until it is sure that “the economy has withstood recent events” and is moving towards its goals.

Shares in companies that will benefit the most from the emergence of the coronavirus vaccine came under pressure on Wednesday amid conflicting reports on the timing of its mainstream use. US President Donald Trump said Wednesday that widespread distribution of the coronavirus vaccine to the public will start in October with 100 million doses ready by the end of 2020.

Meanwhile, U.S. health officials are citing different dates for when the coronavirus vaccine will be available to the public, Bloomberg reported. “If you ask when it (the vaccine) will be available to the American public, then I think we are probably looking at the end of the second quarter – the third quarter of 2021 as the deadline,” the director of the Centers for Control and Development said at a Senate hearing. Disease Prevention USA Robert Redfield.

In turn, the representative of the US Department of Health and Human Services Paul Mango called earlier terms of vaccination. According to him, the current conditions “will allow us to vaccinate every American by the end of the first quarter of 2021.”

Statistical data published on Thursday showed that the number of applications for unemployment benefits in the US fell less than forecast.

Meanwhile, the number of homes that began construction in the U.S. in August 2020 fell 5.1% from the previous month. Analysts on average had forecast a 1.2% decline.

The Dow Jones Industrial Average by 16:56 Moscow time fell by 283.12 points (0.85%) – to 27794.25 points.

Standard & Poor's 500 lost 34.62 points (1.02%) and amounted to 3350.87 points.

The Nasdaq Composite fell 152.48 points (1.38%) to 10897.99 points.

On Thursday, shares of major representatives of the technology sector are falling. Facebook Inc (NASDAQ: FB) stock price. decreases 1.2%, Alphabet (NASDAQ: GOOGL) Inc. – 1.3%, Microsoft Corp (NASDAQ: MSFT). – by 1.1%, Apple Inc. (NASDAQ: AAPL) – up 1.2%.

Netflix Inc (NASDAQ: NFLX) stock quote. are down 1.5%, Tesla Inc. lose 4% in price.

Capitalization of Snowflake Inc. decreases by 7.7%. The cloud storage company more than doubled its quotes in its debut after its initial public offering on Wednesday. At the opening of the session, the price of securities was $ 245, during the day it peaked at $ 319, and closed trading at $ 253.93.

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