DECRYPTION – A stock market crash put an end to the irresistible growth of the digital giants. For the first time sowing doubt among investors.
Friday, April 29, a wind of panic seized the Nasdaq index which brings together the cream of American technology stocks. In a single session, it fell by 4.17%, the worst air pocket since March 2020 and the emergence of the Covid. A simple mishap? No: over the whole month of April, traditionally good for consumption and therefore for the stock market, the decline in the index stands at 13%, unheard of since the financial crisis of 2008. And since the at the beginning of 2020, the drop reached 21%.
Quietly, the market had already begun a healthy correction after two years of euphoria and a speculative bubble. But on Friday, April 29, investors suddenly opened their eyes. “The market is finally facing economic and geopolitical reality,” summarized that day George Ball, CEO of Sanders Morris, a Wall Street financial institution, in the columns of the Washington Post.
Read alsoIn Britain, households are unsubscribing from platforms to “spend less”
The tech sector, drunk on its own ability to profit…