The Dow Jones concluded down 0.66% to 36,079.94 points, the Nasdaq index, under technological influence, fell 1.66% to 15,622.70 points, and the extended S&P 500 index, 0.82 % to 4,646.71 points.

"It's inflation," said Maris Ogg, portfolio manager at Tower Brigde Advisors, explaining this session in the red, the second in a row.

The US Department of Labor announced that inflation accelerated to 6.2% year on year in October, from 5.9% expected.

This is the fastest rate of price increase since November 1990.

On a month-over-month basis, prices also received a good boost, gaining 0.9% from September.

"The higher the inflation, the more people think that (Federal Reserve Chairman Jerome) Powell will accelerate the program" to normalize US monetary policy, or even raise rates, "said Maris Ogg.

However, "if people were really worried, the market would have fallen more" argued the manager.

A sign that operators are still far from panic, the ten-year government bond rate, even if it has tightened by more than 12 basis points (0.12 percentage point), remains at a level very low, at 1.56%.

"As long as the rate does not approach 2% (threshold no longer exceeded since August 2019), the bond market does not tell you that there is going to be inflation," insisted Maris Ogg.

In terms of values, the day was marked by the tour de force of the manufacturer of electric vehicles Rivian, which triumphed on its first day of trading, closing with a market capitalization of around $ 100 billion.

This manufacturer, which has so far delivered only a handful of pick-ups is now worth significantly more than General Motors (86 billion) and Ford (77), propelled by the fever that currently agitates investors when it comes to electric car.

Although the manufacturer is a shareholder of Rivian up to 12%, the Ford share did not benefit from this triumphant arrival on the Nasdaq electronic stock exchange, losing 3.78%.

It must be said that Ford itself has great ambitions in the electric sector, and will launch, in 2022, a dedicated version of its famous F-150 pickup.

Difficult day also for another all-electric manufacturer, Lucid (-9.00%), while the benchmark of the sector, Tesla (+ 4.34%), got out of the slump thanks to a rebound, after two catastrophic sessions.

The manufacturer of microprocessors Nvidia suffered (-3.91%).

Its CEO, Jensen Huang, said on Wednesday he expected demand for semiconductors to continue to "significantly" exceed supply next year.

"We have no miracle recipe" to remedy it, he explained in an interview with Yahoo Finance Live.

Nvidia has followed in its wake its competitors AMD (-6.08%) and Intel (-0.86%).

Mastercard benefited (+ 3.86%) from the extension of its online credit purchasing program, the "BNPL" (Buy Now Pay Later), which is very popular at the moment, to several large groups, notably American Airlines .

Elsewhere in the exchanges, DoorDash (+ 11.58%) soared after the announcement, Tuesday after market close, of the acquisition, for 7 billion euros, of the Finnish Wolt Enterprises OY, which gives the platform to meal delivery an establishment in Europe.

In the third quarter, the group recorded a marked increase in turnover over one year (+ 45%) but which is running out of steam compared to the previous quarter (+ 3%).

The results of the fast food chain Wendy's (-7.12%) remained on the stomachs of investors.

The group's margins are under pressure due to the increase in the cost of labor and raw materials, but also to lower attendance at its establishments.

© 2021 AFP