New York Dow Stock Average Rises Nasdaq Drops November 11 at 6:35 AM
The New York stock market rose on the 10th, and the Dow rose on expectations for the future of the economy. ON the other hand, IT-related stocks are on a downward trend, and the Nasdaq stock index, which has a lot of these stocks, has fallen significantly.
The closing price of the New York Stock Market Dow on The 10th was 29420.92 cents, 262 cents higher than the previous day.
Expectations for the development of a vaccine for the new coronavirus caused the Dow to update its all-time high the day before, but on that day, optimism continued to spread about the outlook for the economy, leading to buy orders.
ON the other hand, IT-related stocks have been on a downward trend, with zooms in Amazon and videoconconsion systems falling sharply following the previous day, and Nasdaq’s stock index is also falling.
The Nasdaq’s decline was nearly 3% compared to the previous day.
Market insiders said, “The reason for the strong performance of IT-related stocks, which have been pulling the market so far, is that it is difficult to be affected even by coronas, but investment funds are shifting from IT to other industries due to expectations for vaccine development.”