New York (AFP)

The New York Stock Exchange ended in disarray on Tuesday, after attempting a timid rebound following the previous day's scares caused by fears of bankruptcy by Chinese real estate giant Evergrande.

According to final results, the Dow Jones index dropped 0.15% to 33,919.84 points.

The technology-intensive Nasdaq advanced 0.22% to 14,746.40 points, while the S&P 500 dropped 0.08% to 4,354.19 points.

"There was a rebound but it was rather weak," said Peter Cardillo of Spartan Capital Securities.

"This shows that investors remain focused on the main concerns which are obviously Evergrande in China and the Fed's Monetary Committee," the analyst told AFP.

According to him, the markets "are not very afraid of the Fed" which should not yet announce a decision on its slowdown in asset purchases.

The monetary meeting concludes Wednesday with a press conference by Central Bank President Jerome Powell.

On the other hand, according to the economist of the markets for Spartan Capital, the investors "seek to know how will evolve the situation of Evergrande and if there could be repercussions for the world economy".

The Chinese real estate developer is said to be in debt to the tune of 300 billion dollars and is struggling to cover its maturities, which raises fears of bankruptcy.

"If they go out of business and are not saved - which I doubt because China will probably get them out of there - it could be painful, with massive delinquencies that could slow them down. economic activity in China and weigh on the global economy, ”Cardillo said.

Gary Gensler, the boss of the SEC, the American stock market policeman, assured him that the American economic system was better prepared than in 2008, during the financial and real estate crisis, to face the financial repercussions of a bankruptcy of 'a group like Evergrande.

After the severe fall on Wall Street on Monday, where the indices had their worst session since the spring, investors also took advantage of good deals, participating in the rebound, noted analysts at Wells Fargo.

The issue of raising the debt ceiling of the United States also continued to capture the attention of investors.

By mid-October, the US state will be short of funding, raising fears of the specter of a default, never occurred in history.

A good indicator in the housing market in August helped restore confidence.

New housing starts in the United States picked up again in August (+ 3.9%) after plunging in July, and building permits also rose.

The Dow Jones index, which had restarted well at the beginning and the middle of the session, lost its momentum at the end of the day, in particular when Disney, a heavyweight of the index, indicated that production delays due to Covid-19 would also slow the increase in subscriptions.

Disney dropped 4.17% to 171.17 dollars.

The chauffeur-driven car rental and meal delivery company Uber soared 11.49% to $ 44.36 after it said it was going to be profitable as early as this quarter, earlier than expected.

Covid vaccine maker Johnson and Johnson rose 0.44% to $ 164.53 after touting the effectiveness of a booster dose of its vaccine originally designed as a single dose.

The Anglo-Dutch group Royal Dutch Shell, which announced Monday the sale to its competitor ConocoPhillips of its assets in the American Permian basin for 9.5 billion dollars, gained 3.87% to 40.48 dollars on Wall Street.

ConocoPhillips climbed 3.96% to $ 59.33.

Yields on 10-year Treasuries edged up to 1.32% from 1.31%.

© 2021 AFP