July 13, 2024

US stocks drop – Apple closes €1 billion chip deal

US stocks drop – Apple closes €1 billion chip deal

New York, Dusseldorf Concerns about the US debt ceiling negotiations pushed Wall Street into the red on Tuesday. The Dow Jones index fell 0.2 percent to 33,233 points in New York in the early afternoon. The broader Standard & Poor’s 500 index fell 0.6 percent to 4,168 points. The Nasdaq Technology Index lost 0.8 percent to 12,617 points.

The latest summit meeting between US President Joe Biden and Republican negotiator Kevin McCarthy ended again on Monday night without result. Both sides were optimistic that a compromise could be reached.

However, experts urged caution. “For overheated stock markets, there remains a clear risk that the mood will change if the fronts in Washington tighten again and a deal is a long way off,” said strategist Jürgen Molnar of brokerage RoboMarkets.

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