Morning Report 18 May 21: US sharemarkets fell on Monday

Investors weighed risks to the economic outlook posed by inflation and a spike in Covid-19 cases in parts of Asia. Shares of big technology companies Apple and Netflix both fell 0.9% with Microsoft down 1.2%. Discovery's Class B shares rose 13.8% after a deal to merge with AT&T's (-2.7%) media unit was announced. Shares of cryptocurrency stock Coinbase Global (-3.9%) fell to a record low amid Bitcoin volatility after Elon Musk said that Tesla "has not sold any Bitcoin" in a tweet. Tesla shares lost 2.2%. The Dow Jones index fell by 54 points or 0.2%. The S&P 500 index lost 0.3% and the Nasdaq index shed 51 points or 0.4%. 

 

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