LinkedIn collapsed on the US stock market – Swedish Dagbladet

Wall Street, New York, United States. Photo: Richard Drew / AP

On the stock front dropped LinkedIn a third of its market capitalization, while a tight oil companies raged on.

at 16:10 o’clock noted the Dow Jones Industrial Average down 0.3 percent to 16,365. S & amp; P 500 was noted down 0.5 percent to 1,904 notes, technology-heavy Nasdaq Composite fell 1.2 percent to the level of 4453.

Approximately 160 million shares were traded on the New York Stock Exchange and Nasdaq had around 310 million shares were traded.

US interest rates rose and the dollar strengthened after the employment report showed that wages unexpectedly high increase, the number of hours worked has risen and unemployment has fallen.

the main figure was weaker than expected, the number of employed outside the agricultural sector in the US grew by 151,000 people in January, against the anticipated plus 190,000.

– it’s hard to get a feel for whether this was good or bad news because the main figure was slightly worse than expected. However, it is encouraging, with unemployment at 4.9 percent. This is not good for either the ‘bulls’ and ‘bears’, but it is good for the consumer, said Erik Davidson, director investor at Wells Fargo in New York, told Bloomberg News.

Rising interest rates supported the banking sector, which was holding up reasonably well with the adverse market climate. Bank of America and JP Morgan both rose nearly 1 percent.

It was worse for energy related to the oil once fallen, partly pressured by a stronger dollar. Heavyweights Chevron and Exxon was down more than percent.

The course was worse for Linn Energ y which plummeted 37 percent. The company announced that it is evaluating strategic options to strengthen its balance sheet. In the wake of oil price case, the stock has already fallen around 95 percent from the 2014 peak levels.

LinkedIn pin point is also the ranks of companies that really plummeted, in the case of 40 percent. The company, which possesses the world’s largest job search network, has guided for slower revenue growth in the wake of weaker advertising sales than expected. LinkedIn had 414 million users at the end of the fourth quarter, up from 396 million the corresponding period last year.

The interest rate on ten-year US Treasury bond rose 3 point to 1.87 percent.