Les marchés européens et américains sous pression : l'inflation, les taux d'intérêt et le conflit au Moyen-Orient font peser les actions

The Swiss SMI is expected to open slightly down by 0,1 percent after falling 1,8 percent on the previous day. Concerns about the escalation of the Middle East conflict and the associated rise in oil prices are weighing on Asian equity markets. The Japanese Nikkei 225 loses 0,8 percent, while the Topix drops 0,3 percent. In China, investors remained on the sidelines, with Shanghai down 0,1 percent and the combined Shanghai-Shenzhen index down 0,2 percent. Geopolitical tensions, in particular Iran's attack on ships near the Strait of Hormuz and the sinking of Iranian oil tankers by the US, have heightened uncertainty. In addition, the Bank of Japan (BOJ) signalled expectations of an accelerated interest rate hike, which added to the burden on oil prices and interest rate expectations. While banks and oil companies benefited from higher interest rates, companies such as Nintendo (-5,8 percent) and cable manufacturers Fujikura and Furukawa Electric suffered under market conditions. In China, UBS withdrew its fund distribution unit in Shenzhen at the end of September, as it was unable to establish itself in a competitive market. At the same time, nervousness reflected US inflation data and the monetary policy decisions of the Federal Reserve (Fed). Oil prices were supported by concerns about global supply shortages due to the escalation of the Middle East conflict, with the Brent price at USD 101.03 per barrel and the WTI price at USD 96.22. US equity markets also showed weakness: the Dow Jones lost 0,77 percent and reached its lowest level since the end of July, while the S&P 500 fell by just under one percent. The Nasdaq 100 was less affected, with a slight decline of 0,29 percent, driven by positive developments at Meta, which introduced its own AI assistant. However, only chip and storage companies such as Marvell Technology (+1.5 percent) or AMD (+4.3 percent) benefited. Oil companies such as Chevron and ExxonMobil rose by up to 2,2 percent as the Brent price exceeded USD 100 per barrel for the first time since July. Among non-financials, petrol station chains such as Casey's (–14 percent) and software company ServiceTitan (–30 percent) suffered heavy losses, with ServiceTitan issuing a disappointing quarterly forecast. Market participants positioned themselves cautiously ahead of upcoming decisions by the ECB, US inflation data and quarterly results from tech companies such as Oracle and Adobe.