After a rising opening, the Parisian rating fell below the 6,500 point mark, falling 0.23% to 6,485.30 points at the close.

Over the week, the Parisian rating dropped 0.47%.

Its accumulated losses since the beginning of the year are more than 9%.

The US economy added more jobs than expected with 390,000 new hires in May, a number above estimates.

But the unemployment rate remained at 3.6%, close to its lowest in fifty years, while it was expected to decline slightly.

This was "moderately welcomed," said Mikaël Jacoby, head of continental Europe brokerage at Oddo Securities, interviewed by AFP.

The hourly wage continued to increase, although at a slower pace, and now stands at 31.95 dollars per hour on average, +0.3% over one month and +5.2% over one year.

“Hopes that the Fed will water down its wine at the next meeting of its monetary policy committee (FOMC) are de facto evaporating and the markets are taking note,” said Thomas Bauder of the economic research firm Riches- Flores.

The US central bank (Fed) has been gradually raising its key rates since March to fight inflation and intends to continue its monetary tightening this year.

Markets fear that too big a hike could push the economy into recession.

US President Joe Biden assured Friday that it was possible to control inflation "without sacrificing" employment, the labor market having shown itself to be solid in May.

The growth of activity in services in May in the United States slowed further, more than expected, and the index measuring it fell to its lowest level since February 2021, according to the index of the federation professional ISM.

The markets have been blowing hot and cold lately, both worried about an economic slowdown and confident about the situation in China, which is gradually lifting its health restrictions.

"The central question is now the extent of the slowdowns and the impact on activity and especially corporate margins", observe the experts from Edmond de Rotschild AM in a market update.

Some experts are betting that the economic slowdown will itself lead to a decline in prices insofar as inflation destroys demand which then lowers prices.

Tech and the car showered by Tesla

Press reports that Tesla boss Elon Musk mentioned a 10% reduction in the workforce of his group sent the stock on Wall Street tumbling almost as much at mid-session (-9.25%) and dragged down technology stocks and the automotive sector on the decline.

Stellantis fell by 3.24% and Renault by 1.92%.

Fears of possibly more aggressive monetary tightening than expected from the Fed and signals of a weakening US economy weighed on technology stocks on both sides of the Atlantic.

STMicroelectronics dropped 2.19% to 36.90 euros and Dassault Systèmes -1.51% to 38.82 euros.

© 2022 AFP