New York (AFP)

Wall Street recorded Tuesday its third consecutive session of decline, once again weighed down by the fall of large technology stocks, but also weighed down by the decline in most sectors of the market.

Its flagship index, the Dow Jones Industrial Average, lost 2.25% to 27,500.89 points.

The high-tech Nasdaq fell 4.11% to 10,847.69 points, dropping below 11,000 points for the first time in a month.

The index has fallen more than 10% since its record reached last Wednesday.

The extended S&P 500 index for its part fell by 2.78% to 3,331.84 points.

The New York Stock Exchange had already plunged at the end of last week, experiencing a sudden stop after several weeks of strong increase.

This decline was largely caused by market rotation to the detriment of the technology sector as well as by profit taking before a long weekend in the United States, Monday being a holiday due to "Labor Day ".

"Although there is still rotation today, the losses are much more widespread and affect certain sectors focused on economic recovery," said Jack Ablin of Cresset Wealth Advisors.

In fact, all of the S&P 500 sub-indices, which represent different sections of economic activity, ended in the red on Tuesday.

Among the mainstays of Silicon Valley, Amazon fell 4.39%, Apple by 6.73%, Facebook by 4.09% and Alphabet (the parent company of Google and YouTube) by 3.64%.

“Investors aren't just waving in their desks. They're worried about a lackluster recovery,” says Ablin.

Tesla, for its part, fell by more than 21%.

The high-end electric vehicle maker, which has seen a meteoric rise on Wall Street in recent months, suffered heavily from its non-admission to the prestigious S&P 500 last Friday.

Market players have also observed with apprehension the still high tensions between Washington and Beijing.

The United States on Tuesday accused China of "threatening" and "harassing" foreign journalists after Beijing's decision to freeze US media credentials.

Investors also followed negotiations in Congress on further economic aid measures on Tuesday, but differences remain strong between Republicans and Democrats.

On the bond market, the 10-year rate on US debt fell to 0.6788% around 8:35 pm GMT, against 0.7180% on Friday evening.

© 2020 AFP