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Musk to sell 10 trillion won worth of Tesla stock Cho Jae-gil’s Global Market Now

On the 3rd (local time), the major indexes of the New York Stock Exchange closed lower. The Nasdaq, which has many large tech stocks, led the bear market. The 10-year government bond yield fell 0.09 percentage points from the previous day to record 1.35% per annum. It is the lowest since September 22.

The leading index, the S&P 500, fell 0.84% ​​to 4,538.43, the Nasdaq plunged 1.92% to 15,085.47, and the Dow fell 0.17% to 34,580.08, respectively.

The fear of the new Corona 19 mutant virus, Omicron, has spread.

The number of confirmed cases of Omicron mutation increased from 20 countries the previous day to 40 countries. In the United States, dozens of people have been found to be infected with Omicron. Concerns arose that the economic recession might be in full swing.

Last month, employment fell below half of what was expected, fueling concerns about a slowdown in the economy.

Nonfarm payrolls added only 210,000 jobs in November, according to the U.S. Department of Labor. This was significantly lower than the 550,000-573,000 expected by the market. However, the unemployment rate improved to 4.2% in November from 4.6% in the previous month.

Although the employment index fell far short of expectations, the labor participation rate stood at 61.8%, up 0.2 percentage points from the previous month. The Fed’s Federal Open Market Committee (FOMC), due to take place in mid-February, has boosted market predictions of accelerating tapering.

In a separate speech, St. Louis Federal Bank President James Bullard also said that the next FOMC could consider speeding up the pace of withdrawal of the stimulus package.

Among individual stocks, the share price of electronic signature company, DocuSine, plummeted more than 40% in one day. This is due to the Q4 earnings guidance that fell short of market expectations. Didi Chuxing, a ride-hailing company called China’s version of Uber, fell more than 20% on the news that it was moving from the New York stock market to the Hong Kong stock market.

photo = REUTERS

Today’s ‘Global Market Now’ issues are as follows.

① Dow who died and came back to life, why? ② The falling meta state, isn’t this virtual? ③ Diagnosis that November employment was rather good ④ Chinese stock fears in Hengda and Didibal ⑤ Next week’s inflation rate is the left and right of the Fed.

More details can be found on Hankyung Global Market YouTube and Hankyung.com broadcasts.

New York = Correspondent Jo Jae-gil [email protected]

ⓒ Hankyung.com, unauthorized reprinting and redistribution prohibited

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