By Francisco Rodriguez-Castro on September 29, 2020
SAN JUAN – Concern over the increasing number of coronavirus cases in New York led the markets to its first negative day in four days.
The New York region alone has seen the closure of 6,000 business, and bankruptcies have increased by 40 percent. Make no mistake, the tsunami of bankruptcies will surpass 200 percent when all is said and done.
Traders are also eager to see the results of the first presidential debate Tuesday evening. Analysts believe the first debate has a more direct impact on the markets.
Meanwhile, House Democrats unveiled their latest stimulus package, smaller than the previously presented but above what the Senate Republicans are willing to offer.
Wall Street closed as follows:
- Dow Jones Industrial Average closed at 27,452.66, down 131.40 points, or 0.5 percent
- Standard & Poor’s 500 closed at 3,335.47, down 16.13 points, or 0.48 percent
- NASDAQ Composite closed at 11,085.25, down 32.28 points, or 0.29 percent
- Birling Capital Puerto Rico Stock Index closed at 1,502.64, up 30.70 points, or 2.08 percent
- US 10-year Treasury Note closed at 0.66 percent
- US 2-year Treasury Note dropped to 0.11 percent from 0.14 percent