Dax and Meta Stock Tumble 2% Today After Record Highs
Today stock markets are showing a mixed picture, with the Dax index and the Meta stock losing around 2% of the value.
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The shares of Meta corporation were on a strong bullish trend since October 2022 when the rice was at $88, and kept surging until Friday last week, when they peaked at $740. But the shares reversed lower yesterday losing around 3% and today the decline continues, with the price shedding another 2% and dipping below $700 as profit taking kicks in.
Todayโs stock market heatmap presents a mixed outlook across various industries. The technology sector saw slight declines, with Microsoft (MSFT) slipping 0.25%, while Nvidia (NVDA) posted a gain of 1.5%. The semiconductor industry displayed uneven performance. Analog Devices (ADI) recorded a notable surge of 4.30%, whereas AMD faced a marginal decline of 0.5%. Meanwhile, the consumer cyclical sector demonstrated strength, highlighted by Tesla (TSLA) rising by 3%. However, investor sentiment toward Amazon (AMZN) appeared divided, as the stock fell by 1%.
Dax Index Chart Daily โ Forming A Big Bearish Candlestick
The European stock market in general experienced a widespread decline, with the STOXX Europe 600 falling nearly 1%. This downturn reflected a broader trend of market caution and investor uncertainty. Germanyโs DAX suffered the most significant loss among the major indices, dropping by 1.80%. The sharp decline was likely driven by sector-wide selloffs, which contributed to the indexโs weak performance.
Franceโs CAC 40 and Spainโs IBEX 35 also recorded notable losses, signaling a broader sentiment of caution among investors. These declines suggest that market participants are growing wary of potential economic challenges and external pressures. The UKโs FTSE 100 experienced a relatively smaller drop of 0.62%. This milder decline may have been supported by the resilience of commodity stocks, which helped cushion the overall market performance. Italyโs FTSE MIB showed the smallest decline at 0.53%, indicating a level of relative stability in the Italian market compared to its European counterparts.
Closing Levels for Main European Bourses
Key Index Performance
- STOXX Europe 600: Closed at 552.10 points, down โ5.07 (0.91%).
- German DAX-INDEX: Closed at 22,433.63 points, down โ410.87 (1.80%).
- France CAC 40: Closed at 8,110.54 points, down โ96.02 (1.17%).
- UK FTSE 100: Closed at 8,712.53 points, down โ54.20 (0.62%).
- Spain IBEX 35: Closed at 12,929.40 points, down โ214.50 (1.63%).
- Italy FTSE MIB: Closed at 38,348.16 points, down โ205.99 (0.53%).
Dax Index Live Chart
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