WALL STREET OPENS LOWER
PARIS (Archyde.com) – The New York Stock Exchange fell sharply on Friday in early trading, as fears over the escalation of the conflict in Ukraine far outweighed the sharper-than-expected rise in job creation in the United States .
In early trading, the Dow Jones index lost 1.15% to 33,405.31 points and the broader Standard & Poor’s 500 fell 1.05% to 4,317.49 points.
The Nasdaq Composite fell 0.84% to 13,423.978.
Global equities are in the red and safe havens sought following the announcement of a fire, now extinguished, near the largest nuclear power plant in Europe located in Ukraine and fallen into Russian hands.
The yield on ten-year Treasuries fell 11 basis points to 1.7341%, the euro widened its losses below the $1.10 mark and the price of gold gained more than 1%.
The publication of a report on employment considered solid by the president of the Federal Reserve of Chicago is clearly not enough to reverse the trend.
The US economy created 678,000 non-farm payrolls in February compared to 481,000 in January, the Labor Department said, while the Archyde.com consensus gave a figure of 400,000.
“Overall, the jobs report is positive and gives Fed Chairman Jerome Powell the green light to move forward with a 25 basis point hike at the next meeting, despite the geopolitical obstacles,” said Thomas Hayes, at Great Hill Capital.
Among the values once morest the trend of the downtrend, Gap gained 4.07% and Broadcom 2.07% following publishing forecasts above expectations, driven by strong demand.
(Laetitia Volga, edited by Sophie Louet)
