(New York) The New York Stock Exchange fell again on Monday, burdened by stocks of technology and energy, reflecting concerns about inflation, the reaction of the US Federal Reserve (Fed) and a possible recession.
Posted at 8:53 p.m.
Updated at 16:48
According to the final results, the Dow Jones index fell by 1.99% to 32,245.70 points.
The high-tech NASDAQ fell 4.29% to 11,623.25 points, falling below 12,000 points for the first time since November 2020.
The technical threshold of 4,000 points S&P 500 did not pass, the index fell by 3.20% to 3991.24 points, the lowest level for the year.
“Investors are unable to buy in decline, to buy” failure “(trough, ed.). There is no trust, “said Gregory Volokhin of Meeschaert Financial Services.
“The problem with the market is that it doesn’t see what good news will allow it to recover,” he said. “And if we don’t buy when it falls, it may continue to fall …”
Thus, the New York indexes started the week deep in the red after six consecutive weeks of losses for the Dow Jones and five for the NASDAQ and S&P 500.
“Constant inflation has prompted the Fed to become more aggressive in its rate-raising campaign, but this has caused uncertainty about its ability to make a soft landing,” Schwab analysts fear.
“Rising interest rates and a strong dollar continue to undermine morale and signal tough financial conditions as the war in Ukraine and quarantine measures in China obscure the picture,” they added.
Investors also showed their nervousness ahead of the April release of the US inflation rate (CPI).
Rising prices excluding food and energy could continue to accelerate, according to analysts + 0.4% for the month against + 0.3% in March. Inflation should remain above 8% for one year, peaking in forty years.
The dollar rose to its highest level in twenty years, while bitcoin, a risky asset, fell 10% around 20:00 GMT, to its lowest level in almost a year and a half, to $ 30,700.
The interest-sensitive technology sector, which affects the future profits of these emerging companies, has been hit hard.
Apple lost 3.32%, Amazon 5.21%, Tesla 9.07%. AMD and Nvidia lost more than 9% in semiconductors.
Rivian, an electric pickup maker that went public in November, fell 20.88%. According to press reports, Ford, one of the company’s largest shareholders, has sold a large stake in the young company.
Uber, which announced cost cuts, fell 11.59% to $ 23.25.
Shares of the Palantir think and fall group fell more than 20% to about $ 7, below the IPO price two years ago. In the first quarter, the company recorded a larger-than-expected loss.
Reflecting concerns about oil demand and the pace of global activity with Beijing’s health restrictions on COVID-19, energy stocks and oil prices have fallen together.
Oil prices fell by almost 6%.
Shares of oil, the sector in the best condition since the beginning of the year and therefore also profitable, fell 8.30% within S&P.
Exxon fell 7.81%, Chevron 6.63% and Occidental Petroleum 10.92%.
Under the influence of the general outflow of Boeing, the heavyweight of the Dow Jones index, unloaded by 10.47% to $ 133.31.
The VIX, known as the “fear index”, which measures market volatility, has risen to almost 35%, the highest level in two months.
The yield on 10-year Treasury bonds, which reached 3.20%, the highest level since November 2018 before the opening of Wall Street, stabilized at 3.03% at about 16:30.