Let’s explore the reason for fall in Nasdaq
- Monday Rally fizzle out in last hour after news from California orders to shut down Malls, fitness centers, worships places and other places on rising cases.
- This has led to sharp fall in Nasdaq and other indices in U.S. as these steps will further derail the economical recovery under this pandemic.
- Surging corona cases in US, a key to global equities..
- Asian markets are trading with red biased this morning. (7:32 A.M)
- SGX Nifty is in red note this morning. (7:32 A.M.)
Why Nasdaq tumbled on Monday?
- Nasdaq and other indices in US markets have recouped all the losses due covid 19 pandemic. This was on the back of reopening economies as the growth engine has started to move again and this has resulted in the optimism in the mind of investors that things will improve here onward.
- Now again the US states are closing due to rising corona cases is the reason of fizzle out of this optimism. As this will again put the brakes on economical activities and rising unemployment. That why markets have fallen yesterday on news from California orders to shut down Malls, fitness centers, worships places and other places on rising cases.
- Dow Jones Industrial Average increased by 10.50 points, or 0.04%, close at 26,085.80.
- The S&P 500 fallen by 29.82 points, or 0.94%, ends at 3,155.22.
- Nasdaq Composite Index tanked by 226.60 points, or 2.13%, close at 10,390.84.