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Big tech weighs on Wall Street after hitting highs at open


Wall street it has lost steam and has closed falls, close to 2% in the case of the Nasdaq. Major US indices have turned around after hitting new highs at the open. The sharp falls in technology have outweighed the advances in the vaccine and the negotiations to carry out a new package of economic aid in the country.

"Interestingly, leadership (in the stock markets) is being shared between technology and cyclicals, a trend that has been increasingly seen in the last five sessions," say experts from Leuthold Group.

"Preventing equities from continuing to rise this Christmas may be an impossible task with the vaccine already on the way and the round of stimuli just around the corner," they add.

They are also seeing drops in Tesla (-8.14%) after Elon Musk has announced that he has moved from Silicon Valley to Texas, a territory in which less taxes are paid.

Generally, the technology sector is registering declines. Microsoft shares are down 1.47%, Apple 2%, Salesforce does almost 3%. "I believe that we're having a digestion day after hitting new highs”Explained Keith Lerner, Truist's chief market strategist.

The declines in Facebook, close to 2%, occur after the United States has sued them for maintaining its monopoly with anti-competitive behavior. According to the lawsuit, the company led by Mark Zuckerberg has been maintaining its "monopoly" in the social media industry for years through anti-competitive behavior.

The positive part of the day falls on DoorDash. The food delivery company has made its debut on the New York parquet with an increase of 80%. At the opening, its shares have reached $ 182 compared to the 120 at which the company had valued its shares on Tuesday night.

On the political front, Donald Trump he has taken another blow after the Supreme Court rejects his attempt to overturn Pennsylvania's election result, in one of his last desperate moves to cling to the Oval Office chair.

The Court, in a short order, has rejected a request from the US Congressman Mike Kelly, ally of Trump, and other Pennsylvania Republicans who sued after the Nov. 3 election.

Across the Atlantic, the Ibex has slowed its advance pressed by the falls of Siemens Gamesa Y Bank Santander. The selective Spanish does not lose sight of Brexit, with a dinner planned in Brussels between Boris Johnson Y Ursula von der Leyen, those who run out of options to forge an agreement. Finally, in Asia stocks have closed green despite the falls in the Shanghai compound.

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