The stock markets suffered Tuesday from the sharp rise in sovereign yields and worried about the surge in energy prices which could weigh on the outlook for global growth. The European indices were all retreating, the same aversion to risk was emerging on Wall Street.
In the United States, around 8:00 a.m., the futures contracts Dow Jones were down 120 points, or 0.35%, to 34,623 points. Those of S&P 500 fell by 33.75 points, or 0.76% to 4,399.25 points, while those of the Nasdaq fell 228.75 points, or 1.51%, to 14,966 points.
In Europe, the results were down. In London, the FTSE 100 lost 0.15%. In Paris, the CAC 40 plunged 1.37% and in Frankfurt the DAX decreased by 1.03%.
In Asia, the Nikkei of Tokyo fell 0.19% and the Hang Seng of Hong Kong took 1.20%.
On the side of oilAt around 8:00 a.m., the price of a barrel of US WTI rose 0.80% to US $ 76.25 and a barrel of North Sea Brent reaped 0.54% to US $ 80.07.
“The current surge in energy prices reinforces concerns, especially with the energy crisis which should worsen just as we enter winter,” writes Pierre Veyret, analyst at ActivTrades.
The world economy remains largely dependent on China’s production capacities. However, the country is facing power cuts that penalize millions of homes as well as many factories, including suppliers to large international companies.
These energy tensions, which can be explained by the soaring prices of coal and natural gas combined with Beijing’s efforts to reduce polluting emissions could also slow the growth of the world’s second-largest economy and have an impact on the consumer goods of the economies. Western.
In this context of rising energy prices, which raises fears of persistent inflation, yields continued to rise in the sovereign debt market, with the US ten-year rate climbing to 1.53% after rising. up to 1.51% the day before. The 30-year maturity took 6 basis points, exceeding 2%.
And the price of a barrel of Brent, the European benchmark for crude oil, hit 80 US dollars on Tuesday for the first time in three years, due to increased demand while supply remains limited.
In addition, “the situation of the Chinese real estate group Evergrande is still a source of tension”, as long as the Chinese state has not indicated whether or not it intends to intervene or not to save or restructure the group in debt and on the verge of bankruptcy, also observes Andreas Lipkow of Comdirect.
Already up sharply the day before, TotalEnergies took 1.11% to 41.52 euros and Vallourec + 2.53% to 7.51 euros. In London, BP advanced 2.29% to 338.70 pence and Royal Dutch Shell 2.32% to 1,632 pence.
The titles of semiconductor manufacturers Infineon (-4.25% to 35.91 euros) in Frankfurt and STMicroelectronics (-4.40% to 37.83 euros) or Soitec (-3.72% to 189 euros) were moving in the red like other stocks in the technology sector penalized by the tension of the sovereign debt market.
Brussels called on Tuesday Volkswagen to compensate without delay the customers wronged by the scandal of the rigged diesel engines all over the EU, and not just in Germany, accusing the automaker of “playing for time”. However, the title gained 1.17% to 277 euros in Frankfurt.
ArcelorMittal announced on Tuesday that it would invest 1.1 billion euros at its site in Ghent, in western Belgium, to reduce its CO2 emissions by building a new steel production plant. The title took 0.25% to 26.07 euros in Paris.
The dollar was strengthening due to the sharp rise in US bond yields. The euro was down 0.12% to US $ 1.1686 around 7:35 a.m. Quebec time.
the bitcoin It dropped 1.61% to US $ 42,017.