Trade war, recession, inflation … Wall Street falls heavily, weighed down by tech giants – Liberation

Donald Trump had promised mountains and wonders to American finance. This Monday, March 10, 2025, is however a gloomy day for Wall Street, after three weeks already very complicated. It is even the worst day since 2022 for the Nasdaq, the Wall Street technological index (-4 %). The Dow Jones lost 2.08 %, and the enlarged S&P 500 index was contracted by 2.70 %. « Today's exchanges have looked like an absolute mortal spiral », said Alon Rosin, manager at Oppenheimer & Co, and quoted by Bloomberg. The Dow Jones has thus erased all of its earnings since November 5, the date of the election of Trump, and the Nasdaq has been even at the lowest in almost six months.

« For the most part, it is a liquidation of technological values », This is evidenced by the strong decline in the Nasdaq index, which shows « That the high concentration of markets on major technological values ​​can become a problem », Steve Sosnick, from Interactive Brokers,. Tech sector giants fell sharply: 4.42 %meta, Microsoft of 3.34 %, alphabet of 4.41 %, Apple of 4.85 %, Amazon of 2.36 %and Nvidia by 5.07 %. The latter are often directed or linked to Donald Trump's more or less displayed support. According to the Bloomberg index of billionaires,, « Business originally Fortunes of the participants in the nomination were among the most losing, with a loss of market value combined of $ 1,390 billion since January 17, the last day of the scholarship before the inauguration ” : 22 billion less over the period for Sergey Brin, co -founder of Google, 29 billion evaporated for Jeff Bezos the Amazon boss and the Washington Post,, And, above all, 148 billion less for Elon Musk.

It is Tesla who, with a drop of 15.43 %, has experienced its worst day since September 2020. An even more impressive tumble for the company of Elon Musk, in particular due to the publication of an analysis of Joseph Spak, UBS Group AG, which revised its forecasts for the first quarter (-16 % compared to its previous estimates). It even plans to fall of 5 % of sales over the year, when the business leaders promised the return of growth in 2025, after an unprecedented annual decrease for the Austin firm last year. The first results of registrations in January and February, in Europe as in China, are catastrophicbetween Nazi greetings and support for Musk Trump, stock problems and increasingly competed, especially by Beijing.

Beyond Musk and Tela, investors have in particular welcomed with fear Donald Trump's statements on Sunday. The American president remained very vague when a Fox News journalist asked him during an interview if he expected a recession in the United States. « I hate to predict things like that », he replied. « There is a transition period », admitted the republican billionaire in the process. Asked about the CNBC television channel on Friday, the secretary of the treasury Scott Bessent held that the American economy and the stock market would enter a « Detox period » While they were « Addicts to public spending », that the administration promises to drastically reduce.

For Sosnick, this fall is particularly linked « To the confusion that reigns over customs duties » And to the fears of a slowdown in the American economy which could be added to increasing inflation. « The actions are crushed by concerns linked to the economic slowdown which darkens the prospects for growth in business profits », wrote in a note Jose Torres, of Interactive Brokers. Investors turn away from the equity markets for the benefit of the bond market, he stressed. In parallel, market players carefully await the publication on Wednesday of the Consumer Price Index (ICC) in the United States for February. It will be one of the first economic data on the state of health of the American economy since Donald Trump's return to power.

Despite The promises made by the new American president Support for the cryptocurrency sector, the values ​​associated with the latter have also unscrewed, with Bitcoin, investors being disappointed with the lack of public purchasing policy in the United States. The Coinbase exchange platform has plummeted 17.58 %, its Robinhood competitor of 19.79 %, when the « minor » (Creators of Digital Currency) Riot Platforms dropped by 9.68 %.