PARIS (Reuters) – The New York Stock Exchange ended lower on Friday, as FedEx’s cancellation of its annual financial forecasts cooled the ardor of investors already concerned about the pace of rate hikes by the Federal Reserve.
The Dow Jones Industrial Average fell -0.45%, or 139.4 points, to 30,822.42 points.
The broader S&P-500 lost 28.02 points, or 0.72%, to 3,873.33 points.
The Nasdaq Composite fell for its part by 103.95 points (0.90%) to 11,448.40 points.
Over the week, the Dow Jones lost 4.14%, the S&P 500 4.77% and the Nasdaq 5.48%.
“People are worried about warning signs, we’re starting to see warnings from companies in separate sectors that raise fears that the outlook is much worse than expected,” said Todd Lowenstein of Union Bank.
The IMF on Thursday evening said it expects a deeper economic slowdown in the third quarter, while the World Bank has estimated that the simultaneous rise in central bank interest rates in the face of persistent inflation could favor a global recession. next year.
Stocks, FedEx, plunged 21.40% after it canceled its annual financial forecast on Thursday by saying that the results of the first quarter of its staggered financial year had suffered from the weakness of its activity volumes, which even accentuated at the end of the period.
In its wake, rival rivals UPS and XPO Logistics fell 4.48% and 4.67% respectively.
On the oil market, WTI stood at .28 (+0.21%) and Brent at .52 (+0.76%).
The dollar was down 0.06% against a basket of currencies a few minutes after the close of Wall Street, while the euro stood at 1.0008 dollars (+0.09%).
On the bond market, ten-year paper fell 0.6 basis points to settle at 3.4533%. Its five-year counterpart fell 4 basis points to 3.6344%.
(Nicolas Delame)
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