Wall Street: Wall Street opens lower, Netflix falls

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PARIS (Reuters) – The New York Stock Exchange continued its decline at the start of the session on Friday, weighed down by the fall of Netflix and its competitors after disappointing results which added to the general lack of appetite for risk.

A few minutes after the start of trading, the Dow Jones index lost 14.7 points, or 0.04%, to 34,700.69, the Standard & Poor’s 500 fell 0.3% to 4,469.2 and the Nasdaq Composite gave up 0.34% to 14,106.42.

If the Dow Jones ends the day at this level, it will post six consecutive sessions of decline and a decline of 3.4% over the whole week. The S&P 500 and the Nasdaq meanwhile are heading for the worst weekly performance since October 2020.

The Nasdaq, which is now trading more than 12% below its November 19 closing high, has been most affected by the impact of rising bond yields.

But market sentiment is broadly unfavorable to risk-taking in both the US and Europe on Friday ahead of the Federal Reserve’s monetary policy meeting, whose timing for interest rate hikes remains uncertain for many. of investors.

In earnings news, Netflix fell 21.1% after a lower-than-expected gain in new subscribers in the last three months of 2021 and a revenue forecast for the current quarter below market consensus. In its wake, Walt Disney dropped 5.34% and ViacomCBS 3.34%.

The world number one in the oil services sector, Schlumberger, lost 0.7%, the general decline in values ​​in the sector with that of the price of a barrel prevailing over sharply rising quarterly figures.

On the rise, the manufacturer of exercise bikes and treadmills Peloton, which had fallen by more than 23% on Thursday after press reports on the suspension of its production in the face of slowing demand, resumed 7.84%.

(Written by Marc Angrand)

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