Wall Street closed this Friday on mixed ground, with the Nasdaq technology index in red and accumulating a 3% drop in the week, its worst record since April, amid the fall of artificial intelligence (AI) companies.
The session was marked by the possibility of a budget agreement in the Senate that would allow the reopening of the Government, closed for 38 days, after which the Dow Jones and the S&P 500 rose 0.16% and 0.13% each, while the Nasdaq lost 0.22%.
For the week as a whole, the Dow Jones lost 1.5%, the S&P 500 lost 1.6%, and the Nasdaq lost 3.1%.
The technology sector loses more than 4% weekly, with subsectors very affected, such as communications equipment (-7.5%) and semiconductors (-5.6%), amid fears of a bubble in the field of AI given its meteoric growth.
Among the accumulated losses of these firms, those of Nvidia (-7%), Oracle (-8.9%) and Palantir (-11%) stood out.
Late today, the Democratic minority leader of the Senate, Chuck Schumer, offered Republicans an agreement to open the federal government in exchange for extending subsidies to the Affordable Care Act (Obamacare) for one year, the main request of the opposition.
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Democrats have refused to accept a provisional budget that does not include these subsidies and Republicans have opposed, arguing that they provide health coverage to undocumented immigrants, but the blockade is beginning to have serious consequences.
In the absence of official data, the consulting firm Challenger, Gray & Christmas estimated that layoffs in the US shot up to more than 150,000 in October, almost triple compared to September, and consumer confidence is approaching historic lows, according to the University of Michigan.
In other markets, Texas oil is losing nearly 2% weekly and remains below $60, weighed down by the prospect of excess supply, the increase in US commercial reserves and restrictions on airports in the country.
Bitcoin, the most used cryptocurrency, lost the $100,000 level today but rebounded at the end of the session. For the week as a whole, it cuts 6% in value.
With information from EFE.
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