Dow falls more than 200 points to end November, but still posts biggest monthly gain since 1987; European stock ended in red; BELEX15 lost 0.28%
Stocks fell on Monday as traders booked some profits given the historically strong gains logged in November. The Dow Jones Industrial Average dropped 271.73 points, or 0.9%, to close at 29,638.64. Earlier in the day, the Dow was down by more than 400 points. The S&P 500 slid 0.5% to 3,621.63, and the Nasdaq Composite closed lower by 0.1% at 12,198.74.
Market sentiment took a hit after Reuters reported that the Trump administration is weighing blacklisting Chinese leading chipmaker SMIC as well as national offshore oil and gas producer CNOOC. The move would limit their access to American investors and escalate tensions with China before President-elect Joe Biden takes over.
The pan-European Stoxx 600 ended the day down by 0.6% provisionally, but was still up over 14% on the month, enjoying its best month since records began in 1986. In terms of individual share price action, German manufacturer Kion Group jumped 7% after announcing a capital increase. British sports retailer JD Sports climbed nearly 6% after reports that the company is backing away from a deal to take over struggling department store Debenhams.
At the bottom of the European blue chip index, Dutch lender ABN Amro fell around 9% after announcing that it will cut almost 3,000 jobs by 2024 in an effort to make cost savings.
BELEX15 ended the last day of November with 0.28% decline, as Belgrade Airport was down 1.5%. The most active was Komercijana Banka, with RSD 6m in volume, while its stock price was flat.
Source: CNBC, Ilirika