Stocks fall, Dow snaps 4-day winning streak as big tech shares slide; European stocks close higher with earnings and lockdown easing in focus; BELEX15 plunged 3% on Energoprojekt’s deep
Stocks fell on Tuesday after a volatile session as a decline in big tech shares took the wind out of a market rally that was sparked by optimism over a potential reopening of the U.S. economy. The Dow Jones Industrial Average closed 32.23 points lower, or 0.1%, at 24,101.55  to snap a four-session winning streak. The S&P 500 slid 0.5% to 2,863.39 while the Nasdaq Composite dropped 1.4% to 8,607.73. All three of the major indexes were up more than 1% earlier in the day.

European markets closed higher higher Tuesday as investors reacted to volatility in oil markets and a host of corporate earnings. The pan-European Stoxx 600 provisionally closed about 1.5% higher, with bank stocks jumping 4.6% to lead gains as most sectors and all the major bourses traded in positive territory.
HSBC, Europe’s largest bank, said on Tuesday that its pretax profit fell 48% year-over-year to $3.229 billion in the first quarter of 2020, while revenue dropped by 5% to $13.686 billion. The bank’s London-listed shares climbed about 1%.
BP missed profit expectations to post a first-quarter underlying replacement cost profit, used as a proxy for net profit, of $800 million. That compared with $2.4 billion in the first quarter of 2019, reflecting a fall of 67%. The oil giant’s stock edged 2.6% higher.
UBS shares climbed 7% after the Swiss lender posted a 40% increase in profit for the first quarter of 2020 on the year before, with net profit attributable to shareholders coming in at $1.6 billion.
Santander, the euro zone’s second-largest bank by market value, reported an 82% year-on-year decline in first-quarter net profit on the back of higher provisions for expected credit losses from the coronavirus outbreak. The Spanish bank’s shares gained 4.8%.

BELEX15 was down even 3% since Energoprojekt plunged huge 18%, while Belgrade Airport also contributed with its 8.5% drop. However, all this was at very low volume, while the most active name was NIS with RSD 8.3m in volume. The stock was down 2.8%.
The projection of the IMF for 2021 is not essentially different than NBS and points to the same thing – next year, we will have a full recovery from the consequences of the pandemic and a continuation of the dynamic growth from the previous years, the governor of the National Bank of Serbia, Jorgovanka Tabakovic, says in her interview for Politika in response to the question whether she shares the IMF's optimism about the GDP dropping only by 3% this year and the projected growth in 2021.
Source: CNBC, Ilirika