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Doubts on Wall Street about technology and the investigation of fraud in the elections


Wall street has ended the session this Tuesday with a mixed tone and only the Dow Jones manages to advance, 0.9% For its part, the S&P 500 and the Nasdaq has closed down. This last index is being the great victim of portfolio rotation, which is leaving falls among the large technology companies.

Amazon and Zoom stand out as well as some of the worst values ​​of this Tuesday. Investors turn their backs on the stocks that have driven the rally so far, and turn to those sectors hardest hit by the pandemic, and now especially cheap.

"The tendency to stay at home has taken the market on the fly for a good part of the year, but it is running out of steam", recognize the experts of Ally Invest. "There is still a clear long-term uptrend for tech companies," he adds.

"The strong results of the Pfizer vaccine have been better than expected, and that means that we can reopen economies earlier than expected," they point out from LPL Financial. "In addition to an economy (that of the US) that continues to surprise on the rise and some bags that already discount all that," they add.

In addition, Amazon is in the crosshairs of investors after the European Commission has formally accused it this Tuesday of hhave used confidential company information for their own benefit who use the sales platform, thereby violating the Community competition rules.

Nikola is registering significant falls after going through the confessional. The electric truck manufacturer has lost 200 million during the first three months of 2020. In addition, it has been known that both the company and its founder, Trevor Milton, have received subpoenas from the prosecutor's office for the southern district of New York (United States) after accusations of alleged fraud.

In the political sphere, the uncertainty about the electoral results continues. This Tuesday it became known that the United States attorney general has authorized all federal prosecutors of the Department of Justice to initiate investigations into allegations of alleged irregularities that would have been committed during the last presidential elections.

Meanwhile Donald Trump remains clinging to the job and refuses to accept his defeat. So much so that from their government they assure that are working "in the second Trump Administration".

The person in charge of delivering these statements has been Mike Pompeo, US Secretary of State. "There will be a smooth transition to a second administration of the president, Donald Trump," he assured during a press conference when asked about a possible transition of power with Biden's team.

On the other side of the Atlantic, the Ibex has extended its particular bullish party and has regained 7,700 points. Finally, in Asia the stock markets have also closed in green, driven by the airlines.

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