New York (AFP)

The New York Stock Exchange opened in the red on Monday, worried about the repercussions for the market, and in particular for the banking sector, of the massive sale of shares by investment firm Archegos Capital Management.

Around 3:05 p.m. GMT, Wall Street's flagship index, the Dow Jones Industrial Average, fell 0.02% to 33,064.65 points.

The Nasdaq, with strong technological coloring, yielded 0.88% to 13,023.75 points and the extended S&P 500 index dropped 0.48% to 3,955.63 points.

Dow Jones and S&P 500 finished on records last week.

"The rebound and new end-of-session highs last Friday, despite the drop in media group shares, breathed fresh air, but this positive scenario did not recur on Monday morning," observed JJ Kinahan of TD Ameritrade.

The New York place wondered about the decision of Archegos to offload at the end of last week of shares held in American and Chinese companies listed in New York, information revealed by Bloomberg.

This block sale of more than 20 billion dollars, unusual in its scale, was carried out in particular by the American investment banks Morgan Stanley (-3.29%) and Goldman Sachs (-0.56%) , according to the financial agency.

It concerns shares of Chinese companies, such as internet giants Baidu Inc (-3.47%) and Tencent Music Entertainment Group (-0.50%), online discount retailer Vipshop Holding (-6.12 %) as well as American companies, like the mass media conglomerates, ViacomCBS (-4.69%) and Discovery (-0.96%), which plunged Friday on Wall Street and struggled again Monday morning.

The securities of Credit Suisse (-12.67%) and the Japanese bank Nomura (-13.39%), both clients of Archegos and who warned that their results would suffer from this sale, fell.

"Most US banks appear to be doing well, but some foreign banks are suffering. The losses for US banks appear to be minor," Kinahan said.

The sub-index representing the banking sector within the S&P 500 lost 0.76%.

Among the other values ​​of the day, Boeing rose 3.58%.

The American aeronautical giant announced that the company Southwest Airlines (+ 0.67%) had placed an order for 737 MAX, the flagship aircraft of the group which had been grounded for long months after two fatal accidents.

© 2021 AFP