Home HomeSwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

Oil Companies Fell on Wall Street

» Published: 15 October 2024

Oil Companies Fell on Wall Street
Photo: Matt Rourke/AP/TT

The New York stock exchange fell on Tuesday, weighed down by declines in, among other things, oil companies and technology giants. The broad S&P 500 index and the technology-heavy Nasdaq composite index lost 0.8 percent, while the Dow Jones industrial index fell 1.0 percent.

As a result of the falling crude oil price – a barrel of North Sea oil cost just under 75 dollars when the exchange closed – the value of shares in energy giant Exxon Mobil fell 3.0 percent. As recently as last week, the oil price was over 80 dollars per barrel.

The index-heavy semiconductor giant Nvidia fell 4.5 percent. Dutch competitor ASML fell even harder, down 15.6 percent, following a statement by CEO Christophe Fouquet. He pointed out that products within artificial intelligence have "great potential", but that it will take time before other market segments have recovered.

Related news
People
Organisations
TTT
By TTThis article has been altered and translated by Sweden Herald

More news

Recovery on Wall Street
1 MIN READ

Recovery on Wall Street

Reports: Major Shareholder Considers Saving Northvolt
1 MIN READ

Reports: Major Shareholder Considers Saving Northvolt

GKN considers closing factory in Köping
1 MIN READ

GKN considers closing factory in Köping

Amazon makes multi-billion investment in nuclear power
1 MIN READ

Amazon makes multi-billion investment in nuclear power

Demand to work from home – strike at gaming company
1 MIN READ

Demand to work from home – strike at gaming company

The Fuel Chains Lower Fuel Prices
1 MIN READ

The Fuel Chains Lower Fuel Prices

Clear in Skellefteå: 338 officials to be laid off
3 MIN READ

Clear in Skellefteå: 338 officials to be laid off

LVMH falls – lower demand for luxury in China
1 MIN READ

LVMH falls – lower demand for luxury in China

Despite Billion-Lift – Still Tough for Municipalities
2 MIN READ

Despite Billion-Lift – Still Tough for Municipalities

Harald Mix optimistic about Northvolt
2 MIN READ

Harald Mix optimistic about Northvolt

NHL Star's Hamburger Chain in Crisis
2 MIN READ

NHL Star's Hamburger Chain in Crisis

Coop's CEO Marie Nygren is leaving her post
1 MIN READ

Coop's CEO Marie Nygren is leaving her post

Kinnevik's value decreases
1 MIN READ

Kinnevik's value decreases

Downward trend on the stock market – Kinnevik weighed
1 MIN READ

Downward trend on the stock market – Kinnevik weighed

Arla wants to buy Egyptian dairy giant
1 MIN READ

Arla wants to buy Egyptian dairy giant

Increased sales in daily consumer goods in September
1 MIN READ

Increased sales in daily consumer goods in September

Housing construction continues to increase
1 MIN READ

Housing construction continues to increase

It takes the longest time to sell an apartment
1 MIN READ

It takes the longest time to sell an apartment

Mixed Trends on Asian Stock Exchanges
1 MIN READ

Mixed Trends on Asian Stock Exchanges

Axfood gets approval to buy City Gross
1 MIN READ

Axfood gets approval to buy City Gross