Economy

Big couches down on red-colored Wall Street | Financial

The Dow Jones index ended 0.6 percent in the negative at 30,814.26 points. The broad S&P 500 fell 0.7 percent to 3768.25 points and technology exchange Nasdaq fell 0.7 percent to 12,803.93 points. On Monday, Wall Street will remain closed for Martin Luther King Day.

With his “American rescue plan” Biden wants to make $ 1 trillion available to help families, for example by raising the federal minimum wage to $ 15 an hour. Also, 440 billion dollars will go to companies and an emergency fund for local governments and 400 billion dollars will go to the direct fight against the corona virus. In February, Biden wants to come up with a more extensive aid plan.

JPMorgan Chase

Banks’ numbers didn’t hit investors well as JPMorgan Chase, the US’s largest bank, lost 1.8 percent. Citigroup and Wells Fargo lost up to 7.8 percent. Industry peers such as Goldman Sachs, Morgan Stanley and Bank of America were put down to almost 3 percent.

US retail sales fell again in December, because, for example, the hospitality industry and stores had to close due to new lockdowns against the spread of the corona virus. There was also a decline in November.

ExxonMobil

Oil company ExxonMobil was also in the spotlight with a minus of 4.8 percent. According to business newspaper The Wall Street Journal, stock exchange regulator SEC is investigating ExxonMobil over the valuation of assets in the oil and gas-rich Permian Basin region of the south of the US, after complaints by a whistleblower to the company.

The euro stood at $ 1.2080, against $ 1.2098 at the close of trading in Europe. A barrel of US oil became 2.8 percent cheaper at $ 52.20. Brent oil fell 2.7 percent in price to $ 54.92 a barrel.

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