NEW YORK (Reuters) – The New York Stock Exchange suffered a day of debacle on Thursday, with the meltdown in technology stocks causing the Nasdaq to drop in the biggest percentage since September 8, 2020.
The Dow Jones Industrial Average fell 1.45%, or 518.17 points, to 35,111.16 points.
The broader S&P-500 fell 111.99 points, or 2.44%, to 4,477.39 points.
The Nasdaq Composite fell for its part by 538.73 points (-3.74%) to 13,878.82 points.
The tech sector once again dragged Wall Street down, with Meta Platforms, Facebook’s parent company, suffering the most severe correction (-26.4%) after it released a lower quarterly revenue forecast on Wednesday evening. to expectations.
Meta dragged down semiconductor maker Qualcomm (-4.8%), which nevertheless reported record revenue in the last three months of 2021 and a better-than-expected target for the current quarter.
Twitter for its part fell by 5.5%, Snap by 23.5% and Pinterest by 10.5%.
Tech heavyweights like Alphabet (-3.3%), Microsoft (-3.8%) and Apple (-1.7%) all ended in the red, Amazon, which was due to publish its financial accounts in the evening, recording the most marked decline (-7.8%).
“As the results of the last few days have shown, achieving or not achieving your objectives is rewarded or penalized, and if you continue to perform well, the market rewards you”, commented Maxwell Grinacoff, equity strategist and American derivatives at BNP Paribas.
“In a rising rate environment, as the year progresses, we expect to see a growing gap between higher quality companies, such as those with the largest capitalization, and lower quality companies that are not reporting. no money,” he added.
Side economic indicators, jobless claims in the United States last week fell more than expected, to 238,000 against 261,000 the previous week.
The monthly jobs report will be published on Friday and it could give the US Federal Reserve new arguments in favor of accelerating the tightening of its monetary policy. Markets fear up to seven rate hikes this year.
* The reminder of the session in Europe: [.EUFR]
* TO BE FOLLOWED Friday:
(David French, French version Tangi Salaün)
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