The stock exchanges in New York fell broadly on Wednesday after today’s sharp falls in China and the continuing negative atmosphere surrounding the situation in Greece.
Despite the focus in Europe large sets targeting the situation Greece now takes the development of the Chinese stock market headlines.
– China A-shares experienced their biggest 15-day fall in 20 years. This decline continued into the night, wrote Nordea in Wednesday morning’s report.
New York Stock Exchange (NYSE) was also closed for over three hours today due to technical difficulties.
The trade accelerated again about an hour before closing time.
The Dow Jones ended the day down 1.47 percent to 17,515.42, the S & amp; P 500 fell 1.66 percent to 2046 , 69, while the Nasdaq fell 1.75 percent to 4,909.76.
Stopped trade
NYSE announced earlier today that all trading was temporarily suspended.
The trade was halted 11:32 New York time, ie 5:32 p.m. Norwegian time. After over three hours down, opened the exchange again at 21.10 Norwegian time.
– The problems caused by an internal technical fault and is not caused by a cyber attack, wrote New York Stock Exchange (NYSE) on Twitter earlier.
All open orders were according to CNBC will be deleted.
Fed Minutes
The minutes from the monetary policy meeting of the Monetary Policy Committee of the Federal Reserve, Federal Open Market Committee (FOMC), from June show that committee members are concerned about the situation in both China and Greece.
The majority considered therefore that the conditions for raising the key rate in the US is still not satisfied, despite the fact that the economy shows improvement.
Thus clarifies the Fed that the current outlook for when a rate hike could come is maintained and that a steering interest rates in the range 0 to 0.25 percent still considered correct.
The central bank is still waiting for the maximum utilization of labor and price stability with an inflation target of two percent, before a rate hike could come – the summary makes no mention of possible times.
Read the abstract here!
Kicking 7,800 employees
Microsoft has launched a major restructuring of its telephone business. This also includes a workforce reduction of 7,800 medabeidere, mainly in this “hardware” business, said in a press release.
also taken write-downs of $ 7.6 billion, equivalent to over 62 billion NOK of assets and goodwill related to the acquisition of Nokia’s smartelefonvirksomhet.
In addition, 750 to 850 million dollars, equivalent to restructuring costs, it added.
The impairment will come in the company’s Q4, but will have no impact on cash flow or tax effect.
The program will be completed before the new year and the company will be revealing more details in connection with the presentation on 21 July.
The stock fell today 0.14 percent percent to $ 44.24.
Alcoa Century
Alcoa kicked off the earnings season in USA after closing Wednesday.
The company reports a profit per share of 19 cents, compared with analysts’ expectation of 22 cents.
Revenue amounted to 5.81 billion dollars.
The stock fell today 5.06 percent to $ 10.50 in regular trading, while it is up 0.05 percent in extended trading.
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