Wall Street closes mixed weighed down by technology, but the Dow rises 0.06%

New York, May 4 (EFE) .- Wall Street closed this Tuesday in a mixed zone and its main indicator, the Dow Jones of Industrialists, rose a discreet 0.06% in a session in which the market was pressured by an important decline in the most prominent technology companies, which led the Nasdaq to decline 1.88%.

At the close of the session on the New York Stock Exchange, the Dow Jones added 19.80 to 34,113.03 units; but the selective S&P 500 fell 0.67% or 28.00 points, to 4,164.66 units.

The Nasdaq composite index, which brings together the main technology companies, was the one that suffered the most this session, falling 261.61 points to 13,633.50 units.

By sectors, the highest rise was for raw materials (1.04%), financial (0.70%) and industrial (0.41%), compared to the loss of technology (-1.89%), non-essential goods (-1.24%) and telecommunications (-0.93%).

Investors on Tuesday withdrew their funds from tech giants such as Apple, which fell more than 3.5%, Alphabet, the parent company of Google, which fell more than 1.5%, and Facebook, which fell 1.3% , while automaker Tesla slipped 1.65%.

Chip manufacturers, such as Nvidia or Intel, also suffered during the session, losing 3.2% and 0.63% respectively.

Analysts pointed to several reasons for this bad day, including concern about rising inflation, fear that the Federal Reserve will have to reduce monetary stimulus earlier than expected, and the possibility of a tax increase in the coming years. months.

The shares fell on the same day that Treasury Secretary Janet Yellen said that interest rates may have to rise shortly to avoid an overheating of the economy.

The market also continues to be affected by statements this weekend from the influential Warren Buffet, Berkshire Hathaway CEO, who said during the company’s annual meeting that “very substantial inflation” is being seen and that his companies will go up. your prices.

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Other companies, such as Clorox, have said in recent earnings reports that the price they are paying for the materials used in their products is going up and that this may have to be passed on to consumers.

This is due to the fact that the prices of several goods have risen substantially in recent months, including wood, corn or palladium metal.

In the Dow Jones listed group, the progress of Dow Inc (2.59%), Cterpillar (2.30%) and Johnson & Johnson (1.55%) stood out, while Apple (-3, 54%), Salesforce (-2.94%) and Microsoft (-1.62%).

In other markets, Texas oil rose to $ 65.69 a barrel and at the close of the session, the yield on the 10-year Treasury bond fell to 1.584%, gold fell to $ 1,779.60 an ounce and the dollar It was gaining ground against the euro, with a change of 1.2017.

(c) EFE Agency