Dow falls more than 300 points as Walgreens slides, but tech leads Nasdaq to record high; European markets close lower as virus fears offset recovery hopes; BELEX15 down 0.34%; Key policy rate kept on hold
The Dow Jones Industrial Average fell sharply on Thursday, erasing its gains for the week, amid renewed concerns over the coronavirus and its impact on the economy. The 30-stock average dropped 361.19 points, or 1.4%, to 25,706.09. Thursday’s decline put the Dow 0.5% lower week to date. The S&P 500 slid 0.6% to 3,152.05. The Nasdaq Composite posted a record, rising 0.5% to 10,547.75.
Walgreens was the biggest laggard in the Dow, dropping 7.7% on weaker-than-expected earnings for the previous quarter. Walgreens also suspended a share repurchase program. Boeing fell more than 3%.
But gains in some of the biggest tech-related names capped the losses Thursday. Amazon rose 3.3% to an all-time high. Alphabet, Microsoft and Apple were up at least 0.4% each.

European markets closed lower Thursday as fears over rising U.S. coronavirus cases appeared to offset hopes of a potential economic recovery.
The pan-European Stoxx 600 closed 0.8% lower provisionally, with utilities stocks leading the losses as most sectors traded in negative territory. Technology shares bucked the trend with a 0.8% gain.
Airbus deliveries climbed by 50% from May to June, but the first half of the year still marked a 16-year low as the coronavirus pandemic and worldwide shutdowns ravaged demand. Airbus shares fell about 4% by the end of the session.
German software manufacturer SAP said business activity gathered steam at a greater pace than expected in the second quarter, confirming its full-year outlook with revenues and operating profits increasing. The stock was the second-best performer in Europe, climbing almost 5%.

BELEX15 was down 0.34%, as Belgrade Airport and NIS lost 1.5% and 0.5%, respectively. The most traded name was Tehnogas, with RSD 0.5m in volume. Overall activity at the market remains very symbolic.
At its meeting yesterday, the NBS Executive Board kept the key policy rate on hold, at 1.25%. The decision was made in light of the expected effects of monetary policy measures undertaken to mitigate the impact of the COVID-19 pandemic. In an environment of high banking sector liquidity, the past key policy rate cuts – to the lowest levels in the inflation targeting regime, will continue to influence trends in the financial and real sectors and contribute to preserving the favourable terms of financing of businesses and households and to the increase in their disposable income.
Source: CNBC, Ilirika