by Noel Randewich and Shristi Achar A
June 5 (Reuters) – The New York Stock Exchange ended lower on Monday as investors appeared to question the Federal Reserve’s continued monetary tightening in the United States, while the world’s largest capitalization Apple hit a record level before ending in decline.
The Dow Jones index fell 0.59%, or 199.9 points, to 33,562.86 points.
The broader S&P-500 fell 8.62 points, or 0.20%, to 4,273.75 points.
The Nasdaq Composite fell for its part by 11.34 points (-0.09%) to 13,229.43 points.
The S&P 500 closed Friday at a nine-month high and the Nasdaq reached a new one-year high after news of moderating wage growth in May in the United States, fueling the scenario of a pause. in the cycle of Fed rate hikes next week.
This prospect, but also that of a deterioration in the economic situation, was reinforced on Monday by the monthly survey of the Institute for Supply Management (ISM) showing a slowdown in the growth of activity in the service sector in the United States. States, a decline in new orders and a measure of input prices at a three-year low.
In individual values, the Apple title reached a historic high in the session at nearly 185 dollars for a market capitalization of around 2.850 billion dollars. However, it erased its gains and ended down (-0.76%), as the global developer conference organized by the Californian group progressed, during which Apple notably presented a new mixed reality headset to 3,499 dollars, more than three times more expensive than the most expensive device sold by Meta in this same category.
Other digital giants, on the other hand, shone, such as Alphabet (+ 1.08%) or Tesla (+ 1.7%), whose sales in China of electric cars assembled in this country jumped in May.
Like JPMorgan (-0.98%), some large American banks suffered from the prospect, mentioned by the Wall Street Journal, of a tightening of capital rules after the bankruptcy of several major institutions. intermediate in March.
Oil tankers Chevron (-0.48%) and Exxon Mobil (-0.44%) failed to benefit from higher crude prices after Saudi Arabia announced a cut in oil production. one million barrels per day in July. (Written by Sruthi Shankar and Shristi Achar A in Bangalore and Noel Randewich in Oakland, French version Bertrand Boucey)