Dow drops more than 500 points

Stores Selling sharply after the opening was higher on the first day of trading in 2021, despite the prospect of continued fiscal stimulus and the launch of the Coronavirus vaccine, helping to optimize investors.

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I am: DJI Dow Jones averages 30070.06 -536.42 -1.75%
SP500 Standard & Poor’s 500 3696.7 -59.37 -1.58%
I: COMP Nasdaq Composite Index 12703.538059 -184.74 -1.43%

All three US averages saw a drop of more than 1% with the Dow Jones Industrial Average down over 550 points in the middle of the morning.

Although the decrease, Tesla Stocks continued their record run after the Elon Musk-led company said it delivered nearly 500,000 cars in 2020, completely falling short of Musk’s previously announced target.

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TSLA Tesla Corporation 733.07 +27.40 + 3.88%

In other tech news, a small group of Google employees voted for the union.

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GOOGL ALPHABET INC. 1,726.25 -26.39 -1.51%
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Action Slack Technologies Inc. 41.90 -0.35 -0.82%
CRM SALESFORCE.COM 218.21 -4.37 -1.96%

Slack, which Salesforce has announced it intends to acquire by the end of 2020, is down 0.4% as the communications platform experiences a service outage on Monday, affecting its users.

The company’s official Twitter account indicated that there were issues with connecting and uploading channels. The service outage began shortly after 10 a.m. EST.

Investors are booming in stocks, hoping to be brighter 202

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HLF Herbalife Limited 49.29 +1.24 + 2.58%

Herbalife shares may be active on Monday after the Wall Street Journal mentioned Activist investor Carl Icahn sold more than half of his stake in the company while also giving up seats on its board of directors.

China’s largest telecom operators, China Mobile, China Telecom and China Unicom, are under pressure after the New York Stock Exchange said it would remove the three companies, citing an executive order.

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CHL China Mobile Limited. 26.95 -1.59 -5.57%
No Chinese Telecom 25.85 -1.67 -6.08%
CHU China Unicom Ltd. 5.39 -0.29 -5.10%

In other Chinese news, there are reports of the richest man in China, the founder of Alibaba, Jack Ma, has not been seen in recent days. FOX Business has learned that it is avoiding public sight despite ongoing tensions between its business and the Chinese government.

Where is Ali Baba Jack Ma?

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Baba Alibaba Group Holdings Limited 227.02 -5.62 -2.42%

Economic figures

Monday will see the release of two economic reports looking at spending on manufacturing and construction. IHS Markit will release its December manufacturing report and construction spending will follow in November soon thereafter. Economists expect spending to rise 0.9%.

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In other asset classes, Bitcoin has fallen nearly 10% to $ 32,000, after surging in the final days of 2020 and the first two days of 2021, surpassing the $ 34,000 level.

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WTI crude rose roughly 1% to $ 48.97 a barrel, while gold jumped higher, gaining more than 2.3% to $ 1939.70 an ounce.

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