Nasdaq turns negative amid tech plunge

Monday, 03. May 2021 17:36

The tech-heavy Nasdaq 100 index turned negative after opening the week with gains and is trading at day's lowest point. Semiconductor shortage has been driving investors' decisions as Xilinx chip manufacturing company lost 3.06% and Tesla dropped by 2.84%.

Meanwhile, the Dow Jones Industrial Average index jumped over 300 points on positive manufacturing data releases. ISM Manufacturing PMI has shown growth for the eleventh consecutive month and the IHS Markit also reported a significant increase in manufacturing activity.

Dow Jones gained 1% led by Dow Inc increasing by 2.77%. The Nasdaq 100 was 0.29% down as Okta dropped by 4.51%. The S&P 500 grew by 0.41% with Gap jumping by 8.91%. The euro traded 0.35% higher against the dollar exchanging hands for $1.20624 at 11:43 am ET.

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