Stock Market News – US Market fall from all-time highs on profit booking
The US stock market declined from last week’s record levels on Monday, 19 April 2021, with major averages all ended in negative territory, as investors elected to book recent profit amid cautious over the ongoing vaccine rollout in the US and uncertainty about the pace of global economic recovery amid spikes in coronavirus cases in several countries.
At the close of trade, the Dow Jones Industrial Average index fell 123.04 points or 0.36% to 34,078.
The S&P 500 fell 22.21 points or 0.53% to 4,163. The tech-heavy Nasdaq Composite Index dropped 137.58 points or to 0.98% 13,915.
Nvidia shares sank after UK regulators said they will probe the company’s proposed $40 billion takeover of British chipmaker Arm over national security concerns.
Shares of GameStop rose as the company announced that its CEO George Sherman will step down on July 31 or upon the appointment of a successor.
Coca-Cola Co rose after the beverage maker trounced estimates for quarterly profit and revenue, benefiting from the easing of pandemic curbs and wide vaccine rollouts.
Shares in Harley-Davidson rose after the motorcycle maker raised it full-year forecast for sales growth.
International Business Machines Corp. (IBM) shares rose sharply after the company reported earnings of $955 million for the first quarter of this financial year, compared with $1175 million, in last year’s first quarter.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)