Markets are in decline, weighed down by fears of a fall in the global economy, while lockdowns continue in China, the prospect of aggressive moves by central banks grows, investor confidence falls and Moscow closes the gas taps to Poland and Bulgaria who refused to pay in rubles.
In Asia, the prices are mixed and the futures on Wall Street and in Europe are up, after a deep red day in New York, where the Nasdaq tumbled nearly 4%, hitting a new 52-week low, without even the excuse of a hike in T-bond yields, which fell to 2.72%, the lowest level for 2 weeks now. Tokyo falls by more than one and a half percentage points and so does Seoul, Hong Kong, Shanghai and Shenzhen rise. Futures on Wall Street rose, which yesterday collapsed under the ‘weight’ of expectations for the quarterly reports of megacaps and tech giants arriving this week.
Investors are worried about the conservative estimates of US companies that credit the thesis of a slowdown in the upcoming economy. The Nasdaq lost 3.95%, the Dow Jones 2.38% and the S&P 500 2.84%. There was caution for the results of Alphabet and Microsoft, which came out with closed lists, which showed a mixed trend. Alphabet and Microsoft closed down at -3.04% and -3.74% respectively, and then spread apart after the quarterly, with the Google holding down by more than 2% and Microsoft rising above 4% in the aftermath. hour, having closed better than expected.
It was precisely these results that straightened the futures, in view of the next quarterly, in particular that of Meta (Facebook) today, which yesterday left 3.23% on the ground, and those of tomorrow of Apple and Amazon of tomorrow, which yesterday lost 3.73% respectively) and 4.58%. These five companies alone account for 21% of the S&P 500.