Sunday , May 22 2022

Vall Street falls, "techs" falls, shop tends



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(Reuters) – The New York Stock Exchange ended in a sharp fall, sanctioned by technological stocks, Apple is at the forefront, and the resilience of trade tensions between the United States and China.

Climate risk exposure has affected operations, and fears of a slowdown in the global economy are returning to the dollar.

On Vall Street, the Dow Jones index fell by 395.78 points or 1.56% to 25,017.44 points.

The wider S & P-500 lost 45.56 points, or 1.67%, to 2,690.71.

Composite's dropped 219.40 points (3.03%) to 7,028.48.

Concerns about technology giants, with extremely robust estimates, contribute to a general non-risk environment after the final release of the Asia-Pacific Economic Cooperation (APEC) Summit this week -end, which stressed the tension in international trade.

VALUES

On the stock exchange, Apple, the first capitalization in the world, gave up 3.96% after a Vall Street Journal article that the group cut its production orders for three iPhone models launched in September.

"Investors are concerned that the iPhone is approaching its peak or has already passed, and chip makers supplying the smartphone sector are also under pressure," said David Madden, an CMC market analyst.

The S & P High Tech index dropped 3.8%.

The memory maker Micron Technologie lost 6.6% after the Financial Times reported on the progress of antitrust investigation in this current market in China.

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

Among the losers of the day is Nvidia, which lost more than 12% due to disappointing forecasts, especially due to a reduction in demand for crypto currency miners.

Another spectacular retreat, from Boeing, which fell by 4.47% (the biggest drop in the Dov), was punished amid renewed pressure on the trade front.

INDICATORS OF THE DAY

The unique most important cyclical indicator of the day, the NAHB real estate market index in the United States, reached significantly below the expectations of 60 versus 68 in October, while the consensus at 67.

SESSION IN EUROPE

In Paris, CAC 40 lost 0.79% to 4,985.45 points, and the first was closed below 5,000 points as of October 30, while at the highest level it reached 0.74%.

Dak in Frankfurt fell 0.85%; the EuroStokk 50 index ended with a decline of 0.64%, FTSEurofirst 300 0.7% and Stokk 600 0.73%.

In London, the FTSE 100, due to the lack of bad news on the Brekit Front, limited the decline to 0.19%.

If the day began with positive remarks, the main source of uncertainty remains, whether trade tensions, negotiations on the outbreak of the United Kingdom from the European Union or a dispute between the European Commission and the Government of Rome in the Italian budget.

Although the main event of that day was again a sharp decline in US technology supplies, the most striking decline in Europe's session was Renault, which dropped by 8.43% after the release of its executive director Carlos Ghosn, also president of Nissan, who was arrested in Japan. is suspected of not reporting part of his income to Japanese authorities on stock exchanges.

A COURSE

Treasury cash registers, which fell to 2 basis points to 3.06 percent, cut losses after comments by US President John Villiams, who said he expects the gradual recovery cycle to continue. the interest rate at the end of the monetary policy meeting next month.

In Europe, the ten-year German yield is virtually unchanged at a closing rate of 0.374%. At the same time, Italian yields rose again in response to the words of Economy Minister Giovanni Tria, reiterating that Rome did not intend to modify its draft budget for 2019, taking into account comments from the European Commission (EC).

RAZMENA

The dollar gets a momentum, and the index, which measures its fluctuations against the basket of reference currencies, is down by 0.27%, which is the lowest in more than two weeks.

The US currency suffers, as on Friday, a cautious tone chosen by several federal ministry officials to discuss global economic prospects and the possibility of the Fed approaching the end of the rate increase cycle that began in 2015.

"It seems that the FX market is beginning to think about taking into account the days of Fed's tensing and the days of a strong US dollar," said Ned Rumpeltin, head of the European Currency Strategy at TD Securities in London.

The euro is used to climb to $ 1.1425, up to November 7th.

In the crypto currency market, the continuation continues for bitkins, falling below the $ 5,000 symbolic threshold, which is more than 10% lower per day.

OIL

Oil prices ended an unstable session somewhat higher after they had long hesitated between the fear of falling market and speculation about a possible reduction in OPEC's production and its allies after a ministerial meeting. cartel on December 6th.

READ WATCHING AT TUESDAY:

Tuesday's day looks pretty quiet on the side of the indicator with the producer price program in Germany for October (07h00) and the numbers for the beginning of housing and construction permits in the United States (13h30 GMT).

BASF, EasiJet and Gap are publishing their quarterly results.

(Patrick Vignal for the French service)

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