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.
The tech sector, drunk on its own ability to profit…