Around 2:15 p.m. GMT, the Dow Jones index lost 1.00%, the Nasdaq dropped 2.25% and the S&P 500 1.64%.

On Friday, the Dow Jones index posted its sixth consecutive week of losses and the fifth in a row for the Nasdaq and the S&P 500.

The flagship index fell 0.30% to 32,899.37 points, the tech-heavy Nasdaq fell 1.40% to 12,144.66 points, and the broader S&P 500 index fell. conceded him 0.57%, to 4,123.34 points.

Thursday, the day after a rate hike by the Fed, the New York market had experienced its worst session since 2020. The American Central Bank raised overnight rates by half a percentage point, the most strong monetary tightening for twenty years.

Nevertheless, for Sam Stovall, chief strategist at CFRA, in this nightmarish session where the Nasdaq lost 5% and the Dow Jones more than 3%, stocks fell "on speculation that the Fed is not being aggressive enough. to contain inflation.

"It's clear this morning that market participants are not yet comfortable with the idea of ​​buying low," noted Patrick O'Hare of Briefing.com.

“It is primarily a question of mood, but there are also fundamental concerns in the performance of growth in an environment of rising rates,” said the analyst.

Investors remained nervous before Wednesday's publication of the inflation figure for April (CPI index).

The rise in prices excluding food and energy could have continued to accelerate to +0.4% over the month against +0.3% in March, according to analysts' forecasts.

In addition, the good employment figures, published on Friday, which show sustained job creation (428,000) raise fears that the Fed "will have to tighten its monetary policy even further to tame inflation", estimated analysts from Wells Fargo.

Added to the backdrop are concerns about growth and supply chain difficulties with the anti-Covid restrictions carried out in Beijing and the stalemate of the war in Ukraine.

On Monday, the VIX volatility index climbed to 33%, on its way to its highest level in two months.

Bond yields on 10-year Treasury bills touched 3.20%, their highest since November 2018, before the equity market opened.

Around 2:00 p.m. GMT, they stabilized at 3.12%.

The big names in the Nasdaq went down again from Amazon (-1.40%) to Meta (Facebook, -2.28%) via Tesla (-3.74%) or Apple (-2.10%) .

Uber Technologies lost nearly 2% as its boss announced major cost cuts to stem the stock market's slide on the New York Stock Exchange, in an email sent to company employees on Sunday.

Acknowledging a "seismic upheaval" on Wall Street, Dara Khosrowshahi insisted on the need for the chauffeur-driven car booking platform to react quickly.

The group will cut its marketing expenses and its "least effective" bonuses.

Palantir's stock fell more than 20% to fall around $7, below its IPO price two years ago.

The data and intelligence analysis group posted a stronger-than-expected loss in the first quarter.

Rivian, the maker of electric pickups, SUVs and vans fell 15% to $24.50 after news reports claimed that one of its biggest shareholders, Ford, sold a hefty chunk of stock to a discounted price.

© 2022 AFP