Wall Street ends in the red its first session of the year

The New York Stock Exchange ended its first session of 2023 in the red, continuing the gloomy trend of the end of the previous year, weighed down in particular on Tuesday by the fall in shares of Tesla and Apple.

Wall Street ends in the red its first session of the year

The New York Stock Exchange ended its first session of 2023 in the red, continuing the gloomy trend of the end of the previous year, weighed down in particular on Tuesday by the fall in shares of Tesla and Apple.

The Dow Jones index fell 0.03% to 33,136.37 points, the Nasdaq, with strong technological coloring, lost 0.76% to 10,386.98 points and the S

Wall Street had briefly started the session higher after a long New Year's weekend, looking set to rebound from the worst year since 2008 for the stock market.

But equities could not maintain this positive momentum, “as the restrictive policy” of the American central bank (Fed) “and fears of recession remained in the center of the concerns of the investors”, commented Edward Moya, analyst at 'Oanda.

The hunt for bargains, motivated at the start of the session by the low price of shares, has fizzled and “it is too early to start betting on a change in attitude from the Fed this year”, continued this analyst. “It will make the environment difficult for equities” at the start of the year, he added.

Bond rates, which had ended 2022 at 3.87% for 10-year US Treasury bills, fell sharply to 3.76% at 9:30 p.m. GMT.

The gloomy mood of traders focused on Tesla stock, which again fell drastically to reach a new low since August 2020.

The title of the electric vehicle manufacturer, which has already melted by 65% ​​last year, lost another 12.24%, ending at 108.10 dollars.

The action was sharply punished as the Elon Musk-led group announced disappointing deliveries for the whole of last year on Monday.

The brand delivered 1.31 million electric vehicles in 2022, which is a record and a 40% year-on-year jump, but it remains below its own forecasts and Wall Street expectations.

"Fourth-quarter figures missed target due to continued logistics issues, demand concerns and increased competition from other manufacturers," Schwab analysts said.

In the last quarter alone, deliveries stood at 405,000 vehicles (18%), while analysts expected 418,000.

A JP Morgan analyst further downgraded its earnings projections for the final quarter as well as for fiscal 2023, further depressing the stock.

Apple also made a bad impression, beating the Nasdaq, while the title of the apple firm fell 3.74% to 125.07 dollars.

Suddenly, the valuation of this mega-capitalization of the Tech sector, which had exceeded 3,000 billion dollars at the beginning of 2022, fell back below 2,000 billion dollars for the first time since last May. The title meanwhile is at its lowest since June 2021.

Apple seems to be facing delays in the delivery of its iPhone 14 Pro made in China.

Investors are also concerned about rising interest rates, which may weigh on the cost of the manufacturer's investments.

A large half of the sectors of the S

Spared, the communication sector was on the rise, with in particular a jump of 3.66% from Meta, the parent company of Facebook.

On Wednesday, the General Electric conglomerate will ratify the split of its health branch GE HealthCare and introduce it on the stock exchange.

Investors will also watch for the minutes of the Fed's latest monetary meeting.

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