Wall Street opens lower, renewed concerns about Evergrande – archyde

PARIS (Reuters) – The New York Stock Exchange opened lower on Friday amid rising uncertainties over the fate of Chinese real estate giant Evergrande, which is urging investors to be cautious.

The Dow Jones index lost 77.48 points, or 0.22%, to 34,687.34 points and the Standard & Poor’s 500, larger, fell 0.33% to 4,434.32 points in the first exchanges.

The Nasdaq Composite for its part yields 0.62% (93.71 points) to 14.958.54 points.

While the market had seemed reassured in recent days about the limited risk of contagion to the financial system from a possible default by Evergrande, the non-payment, according to sources, of the interest on a bond loan to certain creditors on the date Thursday’s bump reignited investor fears.

On the Hong Kong Stock Exchange, Evergrande shares plunged again, by 11.61%.

At values ​​in New York, Nike ceded 5.77% after lowering its sales forecast for the 2021-2022 fiscal year on Thursday.

Sector-wise, only four of the major S & P-500 indices are in the green. The banks index (+ 0.32%) is one of the few to post significant gains thanks to the rise in bond yields.

In the bond market, the yield on ten-year US Treasuries rose three basis points to 1.4406%, still supported by the prospect of a gradual tightening of monetary policy by the US Federal Reserve. Its president, Jerome Powell, is due to speak at 2 p.m. GMT during a debate organized by the institution on post-pandemic economic recovery.

At foreign exchange rates, the index measuring the fluctuations of the dollar against a basket of benchmark currencies does not benefit from risk aversion and falls slightly by 0.11%.

Bitcoin, down 7.73%, suffers from the announcement of a new turn of the screw from Beijing on the regulation of cryptocurrency platforms.

On the oil market, Brent fell 0.25% to 77.07 dollars a barrel and US light crude 0.37% to 73.02 dollars after having risen sharply in recent sessions against a backdrop of tensions on the oil market. offer in the United States.

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(Report Claude Chendjou, edited by Bertrand Boucey)