US stock exchanges: Tech stocks stabilize before the midterms - Shopify shares collapse

There is no clear trend on the US stock markets before the important midterms. After the Nasdaq officially entered a correction, some investors are returning to the buying side.

Dusseldorf. The most important indices on Wall Street cannot find a common direction on the day of the US midterm elections. After the significant losses, prices in the technology sector are stabilizing - apart from Apple. Recently in-demand industrial stocks, however, came under slight pressure in early trading on Tuesday.

The Dow Jones of standard stocks lost 0.6 percent to 51,652 points.

The broader S&P 500 is slightly up at 7,561 points.

The Nasdaq technology exchange rose by 0.7 percent to 25,337 points. The index closed more than ten percent below its record high on Monday and thus entered a correction.

This also applies to the Nasdaq 100, which tracks the 100 largest non-financial companies with the highest market capitalization.

The first results of the midterm elections will be available on Wednesday night. The final outcome depends on how close each race is. It cannot be ruled out that certainty will only be available after days.

The vote will be on the future composition of Congress, but also on dozens of governorships and offices at the state and local level, as well as numerous projects ranging from a tax on billionaires to abortion rights.

Polls suggest Democrats could take the House majority from Republicans, while the Senate majority remains uncertain. The election will therefore determine how freely Trump can govern in the remaining two years of his presidency.

Look at individual values

Apple: The shares fall by three percent. Sales and profits are at record levels, but the group warns of rising costs for memory chips.

Shopify: Investors are reacting in shock to the first disappointment in quarterly sales in a good four years. The shares of the cloud-based e-commerce platform lost up to 13 percent to just under $136. This meant they slipped to the level at the end of September.

Pfizer: The pharmaceutical company has raised its annual forecast after a strong third quarter. The stock was unchanged on Tuesday, but has gained more than ten percent in value over the past month.