PARIS (Reuters) – The New York Stock Exchange fell in early trading on Wednesday amid concerns over economic developments in China as investors await the release of Federal Reserve minutes in hopes of find new clues about the monetary policy of the American institution.

About ten minutes after the opening, the Dow Jones index lost 135.24 points, or 0.39%, to 34,283.23 points and the wider Standard & Poor’s 500 fell 0.31% to 4,441, 6 dots.

The Nasdaq Composite lost 0.22%, or 30.99 points, to 13,785.78.

Services activity in China grew in June at the slowest pace in five months, according to the Caixin Purchasing Managers’ Index (PMI), raising concerns about the global economy’s recovery .

Especially since in Europe, where the Stoxx 600 index lost 0.8%, the results of the PMI surveys in the euro zone showed that activity fell into contraction in June.

The main meeting of the day is fixed at 6:00 p.m. GMT with the publication of the minutes of the last meeting of the Fed, during which the tone of the speech of Jerome Powell, at the head of the institution, leaned to the side ” falcon” despite the status quo.

A quarter-point rate hike on July 26 is estimated at 83%, according to Refinitiv data, but the likelihood of another hike in September is not unanimous (32%) although the Fed has hinted that two hikes were likely by the end of the year.

In values, the microchip manufacturer Micron lost 1% after Beijing’s decision to limit exports of rare metals used in particular in this industry in response to restrictions imposed by Washington in technology.

Netflix gains 1.61% on Goldman Sachs’ recommendation to “neutral” vs. “sell” previously.

(Laetitia Volga, edited by Blandine Hénault)

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