Wall Street closes in low between tension with China and economy reopening

The final results of the session indicate that the selective index Dow Jones Industrial Average yielded 0.47%, to 24,474.12 points.

Stronger were the losses of the other emblematic indexes, with the technological Nasdaq decreasing 0.97%, to 9,284.88 units, and the extended S & P500 losing 0.78%, to 2,948.51.

The New York plaza has ended in different directions in the past four days of this week, which shows the strong volatility that dominates the conjuncture.

“Investors continue to look for what the next catalyst will be,” said Art Hogan of National, but underlining that rising Chinese-US tensions are weighing on investors' minds.

Today, Beijing has threatened Washington with “retaliation” if the US Congress passes sanctions against China as a result of its alleged responsibility for the new coronavirus pandemic.

US senators introduced a bill in mid-May that would give the White House the power to impose sanctions on China if Beijing does not present a “full report” on the pandemic, which appeared in late 2019 in Wuhan.

On the other hand, investors today saw several economic indicators.

So, last week, there were another 2.43 million Americans applying for unemployment, according to figures released by the Department of Labor.

The first world economy remains strongly affected by the consequences of the sudden cooling of economic activity to try to contain the spread of the new coronavirus.

The number of new applications for unemployment benefits is, however, lower than the previous week and has retreated from the peak of 6.8 million reached at the end of March.

On the other hand, industrial activity in the Philadelphia region, in the northeastern United States, continued to decline in May, for the third consecutive month, according to the index of the local bank of the Federal Reserve System, also published today.

RN // NFO

Wall Street content closes down amid tension with China and the economy's reopening appears first in Vision.

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