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The U.S. and European stock markets closed with losses Tuesday. The Nasdaq continued to experience the stock rotation process as the transition towards value stocks continues amid a sell-off of stocks that benefited during the pandemic.
Some notable tech stocks and their closing Tuesday
- Amazon (AMZN) closed at $3,054.00, down $21.73, or 0.71%
- Microsoft (MSFT) closed at $231.90, down $3.34, or 1.42%
- Facebook(FB) closed at $288.10, down $2.72, or 0.94%.
- Apple (AAPL) closed at $119.85, down $1.54, or 1.27%.
While the world is still slowly advancing the distribution of the COVID-19 vaccines, in the U.S., the current pace of vaccination will allow north of 90% of the total adult population to have been vaccinated or have access to vaccines by late April.
Additionally, the implementation of the $1.9 trillion bazooka stimulus and the probable announcement of a $3 trillion infrastructure bill has the world’s most prominent economy well positioned for outsized growth through 2023.
It seems that the news is as clear as the Suez Canal after the removal of the Ever Given cargo ship; furthermore, a notable development came from BioNTech and Pfizer, which jointly announced the plan to reach up to 2.5 billion vaccines for 2021, or and additional 500 million vaccines. This is good news for the whole world.
Wall Street summary for March 30, 2021:
- The Dow Jones Industrial Average closed at 33,066.96, down 104.41 points, or 0.31%.
- The Standard & Poor’s 500 closed at 3,958.55, down 12.54 points, or 0.32%.
- The Nasdaq Composite Index closed at 13,045.40, down 14.25 points, or 0.11%.
- The Birling Capital Puerto Rico Stock Index closed at 2,358.62, down 60.49 points, or 2.50%.
- The U.S. Treasury 10-year note closed at 1.73%
- The U.S. Treasury 2-year note closed at 0.16%.