The New York Stock Exchange was in dispersed order Tuesday at the start of the session, procrastinating after ending the previous week on new records and without any major indicator or publication on the calendar.
At around 10:10 a.m. (2:10 p.m. GMT), the Dow Jones was down 0.54% at 34,597.47 points, the Nasdaq was up 0.18% at 14,664.96 points, and the S&P 500 extended index was down 0.24% at 4,342 points.
Friday, the three indices had all finished at historic levels, carried by the figures of the monthly report on the American employment, with job creations exceeding expectations.
“The market has had a good trajectory lately”Briefing.com’s Patrick O’Hare explained in a note. “As a result, fears are starting to arise that the market will experience a period of deceleration”, he added.
According to several recent publications, the first half was also marked by the arrival of investors and new money on the equity markets, which raises fears of a slowdown during the second half of the year.
Apart from the usual weekly indicators, no major publication is expected this week, which follows the national holiday weekend (July 4).
On the business side, the results season will not start until mid-July.
The Chinese side eye
The market scrutinized Tuesday the Chinese stocks listed in the United States, after the bad sequence of “Chinese Uber” Didi Chuxing, in turmoil less than a week after its IPO last Wednesday.
The title lost 22.18% to 12.09 dollars, weighed down by a series of announcements from the Chinese Cybersecurity Supervisory Authority, which opened an investigation into the application of passenger vehicles (VTC), banned from the company to accept new users and instructed the application platforms to remove Didi from their offering.
Two other Chinese companies, Full Truck Alliance (freight and truck reservation) and Kanzhun (job search), which the regulator also announced to investigate on Monday, also accused the blow on Tuesday, losing 19.30% and 10.49 respectively. %.
The hemorrhage affected many Chinese Wall Street stocks, including e-commerce giant Alibaba, which dropped 2.28% to $ 212.79, amid the Chinese authorities’ tightening of national technology flagships. .
The Chinese social network Weibo was doing well, supported by press reports according to which the group was in discussions with a Chinese investor to exit the rating. Although the company quickly denied, the stock gained 8.43% on Tuesday, to 58.89 dollars.
For its first day of trading after the handover between Jeff Bezos and Andy Jassy as CEO, Amazon gained 3.12% to 3,620.48 dollars. The founder of the titan of the new economy has retained the executive chairmanship of the board of directors.
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