In a context of strong commercial and economic uncertainties, Wall Street ended up on Thursday, March 13, extending a noticeable descent movement for several days.
The Dow Jones sold 1.30 % (to 40,813.57 points) and the NASDAQ index fell 1.96 %. The enlarged S&P 500 index dropped 1.39 % to 5,521.52 points and entered the correction zone, that is to say that it has lost 10 % since its highest year reached on February 19.
The American place has been strongly shaken by the news “Threats to customs duties, uncertainty surrounding reprisals, [et]consequently, the possibility of a recession ”summarizes with the agency France-Presse (AFP) Sam Stovall of CFRA.
Donald Trump threatened on Thursday, France and the European Union (EU) to impose 200 % customs duties on their champagnes, wines and other alcohols if the 50 % customs tariffs announced by Brussels on American whiskey were not abandoned. Since his return to power in January, the American president has launched a whole series of commercial offensives against his allies like his competitors, saying that the United States was unjustly treated in international trade.
Wall Street browsing sight
The EU announced customs duties on several American products on Wednesday, including Bourbon, motorcycles or boats, in retaliation for American surcharges of 25 % in force on the same day on steel and aluminum. They should become effective on 1er April, a day before so -called “reciprocal” customs duties wanted by Donald Trump.
Wall Street has been sailing for several weeks, according to announcements and twists and turns on customs taxes, but “The problem is that we don’t know exactly how far it will go”advance Mr. Stovall.
Investors have also ignored the publication of the Production Price index in the United States (PPI), which measures inflation on the producer side. Over a month, the index does not display any increase, after an increase of 0.6 % in January, according to this publication of the US US Labor Ministry. Analysts were waiting for him, not at the end, but in 0.3 %slowdown, according to the consensus published by Marketwatch. In annual shift, the index slowed down to 3.2 % against 3.7 % in January.
The inflation figures published on Wednesday (CPI index) were also better than expected. “The market could have signed a sigh of relief today with regard to inflation figures”but he “Continue to focus on growth, which will depend on customs duties”observes Mr. Stovall.
The “seven magnificent”
On the bond market, the yield of American state loans at ten years has relaxed at 4.27 %, compared to 4.31 % the day before at the end.
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Elsewhere, at the side, the “seven magnificent”, the nickname given to the big names in the technological sector have all fallen: Tesla ( – 2.99 %), alphabet ( – 2.53 %), Amazon ( – 2.51 %), Meta ( – 4.67 %), Apple ( – 3.36 %), Microsoft ( – 1.17 %) and Nvidia ( – 0.15) %).
The editor of creative professional software Adobe has plummeted ( – 13.85 %), despite results above expectations for the first quarter of its offbeat exercise. Investors consider its forecasts for the current quarter.
The American giant of Intel semiconductors has gone (+ 14.60 %) after the appointment of Lip-Bu tan as a new boss, a perceived figure as being able to help the company in difficulty. Put in difficulty by its delay in artificial intelligence (AI), the company of Santa Clara (California) launched a social plan last year to dismiss 15 % of its staff, lost its place in the famous Dow Jones index (replaced by its competitor Nvidia) and dismissed Pat Gelsinger, the boss who had launched a large reorganization in 2021.