US equity markets lost ground this Friday, partly because of disappointing figures for economic growth in the United States.
The quarterly results of technology powerhouses Amazon and Google have been well received.
The Dow Jones Index closed 1.5 percent lower at 17164.95 points. The S&P500 fell 1.3 percent to 1994.99 points. The technology barometer Nasdaq fell 1 percent to 4635.24 points.
The growth of the US economy in the fourth quarter of last year weakened more than expected. The world’s largest economy rose by an annualized 2.6 percent, after a growth of 5 percent in the third quarter last year. Economists expected on average a growth by 3 percent.
Amazon made a price jump of nearly 14 percent after the retail earning figures were better than expected in the fourth quarter.
Google came up with disappointing figures, but the Internet giant retained the confidence of investors. They put the share 4.7 percent higher.
Microsoft, the strongest descender in the Dow, showed a loss of 3.8 percent.
Credit card company Visa was on top thanks to better-than-expected quarterly earnings with a gain of 2.8 percent. No other gainers were among the main funds.
Apple, which earlier in the week came with strong quarterly results, initially won further ground and reached $120 in early trading. Eventually it dropped to $ 117.16.
Rookie Shake Shack
Rookie Shake Shack did not worry about the malaise and stole the show on Wall Street. The fast-food chain, serving organic meat burgers as a responsible alternative to McDonald’s, was more than twice as much worth on his first day as a public company.
Euro and oil
The euro was worth 1.1295 dollars, as at the end of European trading. Reports that the recent drop in prices put a brake on oil production in the US drove the price of US oil by 7.1 percent to $ 47.67 per barrel. Brent oil was 6.3 percent higher and reached 52.22 dollars per barrel.