Heavy fall on Wall Street, Amazon and inflation weighed – 04/29/2022 at 23:04

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WALL STREET ENDED VERY SHARPLY LOWER

(Reuters) – The New York Stock Exchange ended sharply lower on Friday after the publication of results considered mediocre by investors who fear the effects of worrying inflation which could encourage the Fed to further tighten its monetary policy.

The decline in the New York indices worsened throughout the session and the Dow Jones ended down 2.77%, or 939.18 points, at 32,977.21 points.

The broader S&P-500 lost 155.71 points, or -3.63%, to 4,131.79 points.

The Nasdaq Composite plunged for its part from 536.89 points (-4.17%) to 12,334.64 points.

Over one month, the Nasdaq suffered its sharpest decline since 2008 while the S&P lost 13.3% since the start of the year, which had not happened to it since the first four months of 1932.

The personal consumption expenditure (PCE) price index rose 0.9% in March, the biggest rise since 2005, after rising 0.5% in February. In the 12 months to March, the PCE price index rose 6.6%. This is the biggest annual rise since 1982 and follows a 6.3% year-on-year increase in February.

At values, Amazon, plunged 14.05% after reporting a loss and forecasts deemed concerning. Apple lost 3.66%, again for raising doubts about its outlook.

On the oil market, WTI stood at $104.35 (-0.94%) and Brent at $109.33 (+1.68%).

The dollar was down -0.41% against a basket of currencies a few minutes after the close of Wall Street, while the euro stood at 1.0545 dollars (+0.49%).

On the bond market, ten-year paper [US10YT=RR] took 6.7 basis points to settle at 2.9297%. Its five-year counterpart rose 7.6 basis points to 2.9583%.

(French version Nicolas Delame)

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