The fall of the Wall Street Stock Exchange threatens to erase the gains of the year 2018

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After leading Wall Street to historic highs this year, the big tech stocks are now going through a bumpy autumn.
After leading Wall Street to historic highs this year, the big tech stocks are now going through a bumpy autumn. SPENCER PLATT / AFP

On Wall Street, will Tuesday's day look like the day before? The session on Monday, November 19 was marked by a fall in technology stocks, in the wake of a new plunge by Apple and the semiconductor company Nvidia, which have lost the Dow Jones 1.56% and the Nasdaq 3.03%. The Wall Street Journal wrote, in the middle of the day, that "Yearly earnings since the beginning of 2018 were erased".

The New York Stock Exchange fell again on Tuesday to its lowest level in three weeks and return to negative territory in 2018, the dismal results of several distributors having added to the drop in oil prices and clearances on the markets. technological values. The Dow Jones index lost 551.8 points, or 2.21%, to 24,465.64, and the broader S & P-500 shed 48.84 points, or 1.8%, to 2,641. , 89, after losing up to 2.2% in session. The Nasdaq Composite fell 119.65 points, or 1.7%, to 6,908.82, its worst closing since early April.

The Nasdaq has now fallen by almost 15% since its closing record at the end of August.

Two-digit dives

After leading Wall Street to historic highs this year, the big tech stocks are now going through a tumultuous autumn, characterized by double-digit dives since the beginning of October, and taking away all sectors, because of their weight. .

Symbol of the fall of these tech giants, the iPhone maker has plunged more than 20% since its historic highs of October, cornered by a succession of ratings of analysts who review downward their forecasts for sales of the brand's flagship phone or its stock price in the weeks or months ahead.

In addition to the Apple brand, the other technological stars of the "FAANG" have plummeted since their recent highs, Facebook tumbled before the opening Tuesday 39.5%, Amazon 26%, Netflix 35.5%, and Alphabet (Google's parent company) 20%.

The retail groups also fell heavily after the publication of their quarterly results: Target plunged 10.28%, Kohl's 10.73%, and Lowe's 2.92%.

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