Morgans Financial Limited

Morgans AM: Thursday 25 June 2020


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Fresh coronavirus concerns dented US equity markets - Dow down -710-points or -2.72% The broader S&P500 shed -2.59%. Energy (down -5.54%) led all eleven primary sectors lower. Airlines were under fresh pressure, with American Airlines Group down -7.1% and United Airlines Holdings -8.3%. The NASDAQ fell -2.19% a day after booking a yet another fresh record closing high and snapping an eight session winning streak. Apple Inc shed -1.8%, with the Department of Justice and state attorneys general looking at an investigation that would focus on the company’s App Store, according to a Politico report. The iPhone maker also said it would close seven stores in Houston amid the city’s COVID-19 case spike. The falls marked the worst daily point and percentage drop for all three benchmark indices since 11 June.
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