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Wall Street closes in red after the slowdown of industrial activity in the US



Wall street It closed on a Friday with widespread falls in its main indexes, after a Friday in which the US industrial activity has stepped on the brakes as a result of the coronavirus epidemic. The Dow Jones a decline of 2.5% has been noted. While in the case of Nasdaq the step backwards was 3.2% and in the S&P 500, of 2.8%. The latter has closed its worst Friday since March.

In a day in which the majority of European stock markets are closed for the holiday of May 1, the US has seen this Friday as two indexes certify the slowdown of its industry, to 11-year lows. On the one hand, the ISM (Institute for Supply Management) The index on industrial activity has been published, which stood at 41.5 at the end of April, compared to 49.1 in March. This is the lowest level since April 2009.

On the other hand, the index PMI (Purchasing Managers' Index) stood at 36.1 in April, when in March 2020 this index stood at 48.5

In addition, Wall Street has not welcomed the evolution of two of its main technologies. Amazon has fallen more than 7% and Apple 1.6%, after presenting on Thursday some results that the market has not fitted well. The e-commerce company has confirmed an increase in its operating costs due to the coronavirus, while the Cupertino company had an increase in revenues of 1%.

But one of the most hit stocks this Friday is Tesla, after its CEO, Elon Musk, has assured on Twitter that his price is "too high", which has caused an earthquake in the stock, until closing with a drop of almost 10%

Wall Street kicks off the month of May with the hangover of have initialed its largest monthly increase in the last 30 years, with the S&P 500 gaining 12.7% while the Dow advanced 11.1%. It was the third-largest monthly gain for the S&P 500 since World War II. The Dow had its fourth largest monthly rally since the post-war period and its best month in 33 years. The Nasdaq Composite closed 15.5% higher in April, posting its biggest gain for a month since June 2000.

This Thursday they have known UK industry data, with April's historical PMI drop to 32.6, below analyst's bleak predictions. The drops in the British FTSE100 are almost 2%.

As for the Asian stock markets, they have entered May with mixed sign and cuts of almost 3% on the Nikkei (-2.84%) Japan after the release of the manufacturing PMI revealed that it fell to a seasonally adjusted 41.9 from a final 44.8 in March, its lowest level since April 2009, and showing a more pronounced contraction than 43.7 seen in a preliminary reading last week. The markets of Hong Kong, mainland China, South Korea, Taiwan, Singapore and Indonesia were closed for Labor Day.

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