Economy

Amazon drops to divided Wall Street | Financial

The Dow Jones index was 0.6 percent higher at 29,345 points around 8 p.m. (Dutch time). The broad-based S&P 500 fell 0.2 percent to 3545 points and tech exchange Nasdaq lost 1.1 percent to 10,583 points.

Brussels has filed a formal complaint against Amazon (minus 2.9 percent) for suspicion of unfair competition. The European Commission is concerned about the way the webshop group deals with external sellers who sell their products through sites of the tech company. If Amazon is found guilty, the commission can impose a multi-billion dollar fine.

More tech funds are in the spotlight. For example, Apple (plus 0.4 percent) presented the first computers with self-designed ARM chips. These are a MacBook Air laptop, a MacBook Pro laptop and the Mac Mini desktop computer.

Alibaba is holding its Singles Day and has already sold around 48 billion euros worth of stuff in the first half hour. The Alibaba share, which is also listed in New York, fell just under 8 percent.

In addition, homebuilder DR Horton and maker of meat substitutes Beyond Meat have published quarterly results. DR Horton rose more than 8 percent, Beyond Meat lost about 15 percent.

It has now also become clear that a corona treatment from pharmaceutical company Eli Lilly (plus 3.5 percent) has received emergency permission from the American drug watchdog FDA to be used. The antibody therapy would lead to fewer hospital admissions in people infected with the coronavirus.

The euro was worth $ 1.1817, compared to $ 1.1809 at the close in Europe. A barrel of American oil became 2.3 percent more expensive at $ 41.20. Brent oil cost 2.4 percent more at $ 43.40 a barrel.

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