(Reuters) – The New York Stock Exchange opened in the red on Thursday after a surprise drop in weekly jobless claims in the United States, reflecting the good health of the jobs market and reinforcing concerns about inflation and interest rates.
In early trading, the Dow Jones index lost 58.06 points, or 0.17%, to 34,385.13 points and the broader Standard & Poor’s 500 fell 0.71% to 4,433.70 points.
The Nasdaq Composite lost 1.39%, or 192.66 points, to 13,679.81 points, weighed down in particular by Apple.
A U.S. Labor Department report released before markets opened Thursday showed the weekly number of jobless claims hit its lowest level since February, falling unexpectedly to 216,000 from 229,000 the previous week, while that economists on average expected an increase to 234,000.
Along with the US ISM services index, which showed a rise in input prices on Wednesday, this new data reinforces fears that inflationary pressures will force the Federal Reserve to maintain high rates for longer than expected.
A large majority of traders, however, are betting on a pause in the monetary tightening campaign during the monetary policy meeting of the American central bank on September 19 and 20.
Fears about China are also still relevant: exports and imports of the Asian giant, the world’s second largest economy, fell in August, driven by falling external demand and weak consumer spending. .
Investors are also awaiting comments from at least six Fed officials, who are due to speak later in the day.
In values, Apple lost 4.25% after information according to which China will extend the ban on the iPhone to companies and state agencies.
Large-cap stocks Tesla and Nvidia fell 2% and 2.8% respectively at the open amid tensions on bond yields following data showing persistent inflationary pressures.
(Written by Diana Mandiá, edited by Blandine Hénault)
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