The Stock Markets in New York Ended With Small Losses on Wednesday

The stock markets in New York ended with small losses on Wednesday. Investors on Wall Street are still awaiting an agreement in Washington on a new corona support package for the US economy.

 

The Snap stock made a significant jump after better than expected figures for the company behind the popular app Snapchat.

The leading Dow Jones index closed the session 0.4 percent lower at 28,210.82 points. The broad S&P 500 lost 0.2 percent to 3,435.56 points, and tech gauge Nasdaq fell 0.3 percent to 11,484.69 points.

Netflix lost nearly 7 percent. The group attracted 2.2 million new subscribers last quarter. That was much less than the first two periods of this year when many people turned to the service due to the coronavirus because other forms of entertainment such as cinemas, concerts and theatres were discontinued. Netflix’s profit figures were also disappointing.

Payment company PayPal was also among the winners. The company announced that it would allow payments in cryptocurrency. PayPal customers will soon be able to use various coins on the payment platform.

Companies in the energy sector were also under pressure. They went down in the wake of the oil price. A barrel of American oil became 4 percent cheaper at $ 40.04. Brent oil cost 3.3 percent less at $ 41.74 a barrel.