The world’s second-oldest stock index set a historic record during Monday’s trading. The Dow Jones Industrial Average index exceeded 35,000 points for the first time. In contrast, the Nasdaq technology index lost about one percent and the S&P 500 index also weakened slightly.
The Dow Jones index strengthened on Monday in expectations that US central bank interest rates will remain at technical zero for a longer period. Investors have hopes that after worse-than-expected Friday numbers from the US labor market, the Federal Reserve will not stop supporting the economy.
In contrast, the Nasdaq technology index weakened significantly, losing more than one percent. They weakened virtually all major technology companies, led by Apple, Facebook, Amazon and Tesla. The decline in technology stocks eventually led to a slight weakening of the New York S&P 500 main index.
Technology titles have not been very successful in recent weeks. US President Joe Biden’s plans to increase corporate income tax and double the corporate income tax of U.S. companies operating in more countries around the world and trying to tax earnings where it is most advantageous to them are probably to blame.
