Dow Jones pares early gains, Nasdaq closes 2.5% lower

2021-05-11 00:00:02 GMT (Economies.com)
Dow Jones pares early gains, Nasdaq closes 2.5% lower

The major US stock indices closed lower on Monday, as Dow Jones pulled back from its new record high, while Nasdaq fell due to the continued tech stocks rout.

 

US energy companies rebounded amid fears over disrupting oil supplies, after a cyberattack forced the US largest fuel pipeline to shutdown.

 

The World Health Organization declared the new mutated variant of the Covid-19 virus in India, which caused a lot of concern around the world.

 

Data showed last week that the US economy has added 266,000 jobs during April, worse than forecasts of 990,000 jobs.

 

The US unemployment rate rose to 6.1% in April from 6% in March, while analysts forecast a drop to 5.8%.

 

To the oil market, WTI crude June futures rose 0.1% or 2 cents, and closed at $64.92 a barrel, after hitting a day high of $65.7 and a low of $63.9.

 

Brent June futures rose 0.1% or 4 cents, and closed at $68.32 a barrel, after hitting a high of $69.2 and a low of $67.4.

 

As for stocks, Dow Jones fell 0.1% or 35 points, and closed at 34,742, with a day high of 35,091, and a low of 34,721.

 

Nasdaq fell 2.5% or 350 points to 13,401, with a high of 13,678 and a low of 13401 points.

 

S&P 500 fell 1% or 44 points to 4,188, after hitting a high of 4,236 and a low of 4,188.

 
 
 
  Symbol Last Change Chg.%
1.1933
0.0031
0.2592%
1.3919
0.0025
0.1821%
Tadawul
10919.68
6.62
0.06%
25.941
-0.048
0.183%
73.579
1.753
2.441%
75.56
0.32
0.43%
1773.915
-4.475
0.252%
 
 
US
 
Europe
 
Asia