by Suzanne McGee and Sinéad Carew
(Reuters) – Futures in New York indices opened up sharply on Sunday evening, suggesting that the heavy fall in the main Wall Street indices on Monday occurred on last week following customs duties announced by the administration of US President Donald Trump.
Investors anticipate a week of volatility, while the trade partners of the United States around the world react to the so-called “reciprocal” taxes decided by Donald Trump, who intensified the trade war launched in the wake of his return to the White House in January.
At their opening on Sunday, the future indices indicated declines of approximately 4% for the S&P-500, 3.8% for the Dow Jones and 4.6% for the Nasdaq.
In the wake of Donald Trump’s speech after the fence at Wall Street Wednesday, the S & P -500 plunged 10.5% into two sessions -unheard of in two consecutive days since March 2020 -losing around 5,000 billion dollars of market value.
The S&P -500 has thus fell to more than 17% of its historic peak on February 19 and is closer to the lower market.
“The Haussier market (‘Bull Market’) is dead,” said Mark Malek, director of investments at Siebert Financial, before the opening of future indices. “We may see certain gains over the next few days, but they will not be lasting for the moment,” he added.
According to him, the fact that Donald Trump’s announcement coincides with the start of the quarterly results season has contributed to darkening the prospects.
Earlier in the day, High Economic Advisors by Donald Trump, guests of US television channel morning shows, wanted to present the White House trade policy as a wise repositioning.
During the program “Meet de Press” on NBC News, US Treasury Secretary, Scott Bessent, said there was “no reason” to anticipate a recession.
Some traders say that the stock market will mark a form of rebound at some point.
“It is probably inevitable that there will be up this week again this week,” said Steve Sosnick, chief strategist at Interactive Brokers, upstream of the opening of future indices.
The fact remains that an uncertainty hangs over the viability of any increase in Wall Street.
“Maybe we will have a day this week when the screens will be green, but any sustainable ‘rally’ may not intervene before three or four weeks,” said Alex Morris, director of investments at F/M Investments.
(Suzanne McGee, with Sinead Carew; Jean Terzian)
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