Monday , August 2 2021

Wall Street falls heavy, stuck in distress



(Reuters) – The New York Stock Exchange ended Monday in a sharp decline, severely punished by technology stocks, Apple ahead, noting the continuing trade tensions between the United States and China.

The climate emphasized the risk conflicts on equity while the slowdown fears in the global economy pulled back on the dollar.

At Wall Street, the Dow Jones index dropped 395.78 points, or 1.56%, to 25,017.44 points.

The S & P-500 lost a wider 45.54 points, or 1.66%, to 2,690.73.

Nasdaq Composition rejected 219.40 points (3.03%) to 7,028.48, the largest percentage reduction on a session for almost a month.

FANG, the internet horses that has been driving one of the longest uptrends in the history of the US stock market and whose outstanding valuations are causing concern to investors, has reduced the fall of the Nasdaq.

Their sector index has lost almost 4% and leads for its third consecutive monthly decline.

"We see that GET agreements are beginning to decline, it's like to return to the land," said Stephen Massoca (Wedbush Securities).

WAFF barriers add to the environment of general objects after the absence of a final association of Asia-Pacific Economic Cooperation Summit (APEC) this weekend, which highlighted the impact of international trade tensions.

VALUES

On the stock market, Apple, the world's first capitalization, up 3.96% after the Wall Street Journal article that the group has reduced its production orders for the three iPhone models launched in September.

"Investors are worried that the iPhone is nearing its top, or that it has already passed, and chip manufacturers that supply smartphone and smartphone are also under pressure," said David Madden, a CMC analyst markets.

The High Technical Index of S & P rejected 3.8%.

The memory maker Micron Technology lost 6.6% after Financial Times reports on the rise of the antitrust investigation in this ongoing market in China.

Facebook (-5.9%) dropped to lowest level since February 2017.

Among those who are losing the day Nvidia has also lost more than 12% due to disappointing prospects, especially due to the decline in demand for cryptocurrency corridors.

Another spectacular recession, Boeing, which has dropped by 4.47% (the largest decline of Dow), has been punished within a renewed pressure at the front of the trade.

INDICATORS OF THE DAY

The most important everyday circular indicator of the day, the US real estate market NAHB index, was lower than expectations in 60 against 68 in October, while the consensus was 67.

THE SESSION IN EUROPE

In Paris, the CAC lost 40 0.79% to 4.985.45 points, and was first closed under 5,000 points since October 30, with a maximum of 0.74%.

In Frankfurt, Dax dropped 0.85%; The EuroStoxx 50 index ended with a 0.64% reduction, the FTSEurofirst 300 0.7% and Stoxx 600 0.73%.

In London, FTSE 100, which was triggered by the lack of bad news on the front of Brexit, limited its 0.19% decline.

If the day had started on a positive note, the main sources of uncertainty of the moment continue, be it tensions, negotiations on the departure of the United Kingdom of the European Union or the disagreement between the European Commission and The Roman Government on the Italian budget.

Although the main event of the day was the significant decline in US technology stocks, Renault is the most striking fall in the session in Europe, which fell by 8.43% after its arrest in Japan, its CEO, Carlos Ghosn, also president of Nissan, is suspected of not having declared part of his income to Japanese stock market authorities.

RATE

Treasury, which dropped two baseline points to 3.06%, made their losses after comments from President of the Fed, New York, John Williams, who said he expected continuity of the phased recovery cycle. Interest rate at the end of the next financial policy meeting.

In Europe, the German ten-year product was almost unchanged at 0.374%. At the same time, Italian products rose again in response to the words of the Economy Minister Giovanni Tria confirming that Rome was not planning to adjust its draft budget for 2019 to take into account European Commission (EC) objections.

EXCHANGE

The dollar earns momentum and the index, which measures its variations against a basket of currency, is below 0.27%, the lowest in more than two weeks.

US money suffers, as of Friday, of the careful tone chosen by a number of Federation officials to discuss the global economic prospects and the possibility that the Fed is approaching the end of a cycle cycle & # 39; the rate started in 2015.

"It looks like the FX market is beginning to think that the days of tightening the Fed are counted and dollar days are also strong," said Ned Rumpeltin, head of the European currency strategy at TD Securities London.

The euro benefits to climb to 1.1425 dollars, the largest since November 7.

In the cryptocurrency market, the hole continues to have bitcoin, lowering below the symbolic threshold of $ 5,000, down more than 10% on the day.

OIL

Oil prices ended at a slightly higher volatile session after spending a long time between market fears and guessing the possibility of reducing OPEC production and allies after the ministerial meeting. poster on December 6.

YOU DOES RATES ON TUESDAY:

Tuesday looks calm on the side of the indicators with the prices program for producers in Germany for October (07h00) and housing figures starting and construction licenses in the US (13h30 GMT).

BASF, EasyJet and Bwlch will publish their quarterly results.

(Patrick Vignal for the French service, with Chuck Mikolajczak and Terence Gabriel in New York)


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