The three major indices ended lower all at once, with the Nasdaq Coming down nearly 1% as major tech stocks in the New York stock market fell.
The yield on the 10-year U.S. Treasury note rose from 1.331% to 1.380%, the highest in nearly two months. Most recently, it was 1.379%.
On the 17th (local time), the New York Stock Exchange returned to a wait-and-see attitude with investors ahead of the novel coronavirus infection (COVID-19) delta mutation epidemic and the Federal Reserve’s Federal Open Market Committee (FOMC) regular meeting next week. It showed high volatility, overlapping up to Witch’s Day.
The Dow Jones Industrial Average fell 166.44 points, or 0.48%, from the previous trading day, and the S&P 500 fell 40.76 points, or 0.91%, to 4432.99. The Nasdaq Composite Index fell 137.96 points (0.91%) to close at 15,043.97.
Most of the Megacap tech stocks fell. Facebook closed at $364.72, down 2.24%. Apple and Microsoft also fell more than 1%.
The U.S. Food and Drug Administration (FDA) advisory committee rejected Pfizer and Biontech’s plans to boost the COVID-19 vaccine on the same day. As a result, Pfizer fell 1.2% and BioNtech fell 3.61%. Moderna fell 2.41%.
According to the Securities Trader’s Yearbook, the S&P 500’s average decline in September was 0.4%, the worst ever. In particular, it is analyzed that the stock has entered a historically bearish period because most losses in September occur in the second half of the month.
Some of the volatility that occurs in September often surrounds the so-called Four Witch’s Day (quadruple witching), which occurs at Friday’s close. Four Witch’s Day is a day on which the expiration dates of four derivatives overlap, such as stock index futures and options, and individual stock futures and options, and volatility greatly expands.
“Volatilities are expected to increase next month due to a seasonal recovery in investment uncertainty, continued viral uncertainty and significant monetary and fiscal policy catalysts,” John Marshall, head of derivatives research at Goldman Sachs, said in a note on Friday, according to CNBC reports. do,” he said. Marshall cited data showing S&P 500 volatility typically increased by 27% between August and October.
Among the individual stocks, Invesco’s share price rose more than 5% on reports that it was discussing a merger with State Street’s wealth management division.
By sector, stocks related to materials, utilities, technology, telecommunications, and industry fell by more than 1%, and only the health sector rose among 11 sectors.
Reporter Taejoon Lee, Global Economics, tjlee@g-enews.com
[알림] This article is for investment judgment reference only, and we are not responsible for any investment loss based on it.
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