New York (AFP)

The New York Stock Exchange rallied forward Wednesday after three sessions of decline, benefiting from the good health of large technology stocks, which had been struggling since the end of last week.

Its flagship index, the Dow Jones Industrial Average, rose 1.60% to 27,940.47 points.

The Nasdaq, with strong technological coloring, rose 2.71% to 11,141.56 points and the extended S&P 500 index rose 1.95% to 3,396.96 points.

Wall Street fell sharply on Tuesday, again weighed down by the fall in tech, but also weighed down by the decline in most sectors of the market: the Dow Jones had given up 2.25% and the Nasdaq had plunged 4.11% .

Between its record last Wednesday at the close and its tumble on Tuesday, the Nasdaq had given up more than 10%, which corresponds to a correction in the stock market jargon.

"The market has caught its breath, because trees never rise to the sky," said Gregori Volokhine of Meeschaert Financial Services to justify the decline in previous sessions.

The expert, however, distinguishes between pillars of Silicon Valley with solid performances like Apple, Google or Facebook and a group like Tesla, whose stock had swelled disproportionately in recent months and collapsed on Tuesday.

Be that as it may, the tech sector as a whole regained its luster on Wednesday, dragging other parts of the market in its wake.

The S&P 500 Information Technology sub-sector rose 3.35% on Wednesday.

Among the fastest growing, video conferencing software Zoom climbed 11.05%, Tesla regained 10.92% and graphics cards and chips specialist Nvidia climbed 6.73%.

Among the other values ​​of the day, Tiffany saw its share plunge by 6.45%, weighed down by an announcement from the French group LVMH, which no longer considers itself "able" to buy "as is" the American jeweler, invoking in particular a letter from the French government on the threat of taxes on hexagonal products formulated by Washington.

Tiffany has taken LVMH to court in the United States, accusing the company of having delayed the regulatory procedures for the acquisition.

On the bond market, the 10-year rate on the US debt rose around 8:20 pm GMT to 0.6984% against 0.6788% on Tuesday evening.

© 2020 AFP