Wall Street moves sharply down in startup. In the first few minutes of trading, the Dow Jones index fell 1.14%, the S & P500 lost 1.26% and the Nasdaq fell by 1.44%. All while the Vix has started to rise again, approaching the threshold of 21 points (+ 11%). The risk-off seems to have taken place on global markets in the wake of increasing concerns about the prospects of economic recovery with the Delta variant that could impact precisely in the second half of 2021.
Fears that the Federal Reserve will implement the tapering (reduction in asset purchases) sooner than expected, after the indications arrived yesterday from the Fed minute, also weighed on the mood.
In this context, the weekly numbers on the labor market have just been released. In the week ending 3 July, requests for weekly subsidies showed a slight increase to + 373 thousand units, a value higher than the 371 thousand units (revised value from + 364 thousand) of the past survey and the 350 thousand units expected by the analysts’ consensus.