New York (AFP)
Wall Street ended sharply on Monday, weakened by falling shares of Caterpillar and Nvidia following lower-than-expected financial results in the context of a slowing economy in China.
According to final closing results, Wall Street's main index, the Dow Jones Industrial Average, lost 0.84% to end at 24,528.22 points.
Nasdaq, with a strong technological color, fell 1.11% to 7,085.68 points.
The broad S & P 500 index fell 0.78 percent to 2,643.85 points.
A distinguished member of the Dow Jones index and the barometer of the state of the world economy, Caterpillar was severely penalized on Monday, losing 9.13% after waiting for a stagnation in the Chinese market this year, a country that accounts for 10-15% of its sales of construction machinery.
Nvidia's semiconductor group fell 13.82 percent after lowering its outlook for quarterly revenue due to the slowdown in the same country.
"Caterpillar and Nvidia announcements were not anticipated and this obviously lends a negative tone to this busy week-end in corporate results," said Bill Lynch of Hinsdale Associates.
A number of giants' ranking results are expected in the coming days, including tech groups very sensitive to the state of the global economy.
Apple will open the ball on Tuesday, in full stock market crash and iPhone sales, followed Wednesday by Facebook – and its procession of scandals – and Microsoft. Amazon will follow on Thursday, and Google's parent company, Alphabet, will close the round on February 4, early next week.
Outside the technology sector, Boeing, Pfizer, General Electric and Chevron are also expected to release their quarterly accounts this week.
Comments on the Chinese economy will be examined as the health of the world's second largest economy is a major concern of investors as the trade war continues with the United States.
Brokers were not reassured on Monday by announcing a meeting this week between President Donald Trump and Chinese chief negotiator Liu He visiting Washington for new trade deals, according to Treasury Secretary Steven. Mnuchin.
In the bond market, the ten-year debt interest rate fell to 2.788% at around 0930 GMT, against 2.759% on Friday, and the 30-year debt rate rose to 3.068%, compared to 3.066% at the end of last week . .
© 2019 AFP