Dow sinks over 300 points with Fed's SLR exemption in focus

Friday, 19. March 2021 14:30

Major stock markets in the United States traded deep in the red early on Friday shortly after the Federal Reserve announced it wouldn't extend the supplemental leverage ratio (SLR) introduced at the start of the coronavirus pandemic.

In business news, a recent report suggested China has limited the use of Tesla vehicles among members of the military and state employees over spying concerns. Meanwhile on the vaccine front, German researchers claimed they have found a therapy for rare thrombosis cases occurring after a person receives AstraZeneca's COVID-19 vaccine.

The Dow opened 0.16% lower, but plunged to 1% in the red territory minutes after. The Nasdaq 100 gained 0.17%, with Incyte Corp. surging 2.91%. The S&P 500 stood flat, as FedEx soared 5.22% following its earnings report. However, both the Nasdaq 100 and the S&P 500 turned red shortly after the opening. A minute after the opening bell, the euro lost 0.26% against the dollar to trade for 1.18854.

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Breaking the News / ND