World stock markets down, worried about the war in the Middle East…

World stock markets are moving in the red on Wednesday, penalized by tensions in the Middle East, the lack of rapid prospect of an agreement to end the war, the rise in oil prices and the resurgence of fears about inflation and growth.

On Wall Street, the main indices are catching their breath after setting records.

Around 3:45 p.m. GMT, the Dow Jones lost 0.87%, the highly technological Nasdaq index fell by 0.79% and the broader S&P 500 index by 0.55%.

The chip specialist Marvell (+5.72%) continued to be sought after. At the start of the week, Nvidia boss Jensen Huang assured that Marvell was an essential link in the race to develop data centers, propelling the action by more than 32% on Tuesday.

“The market remains very focused on tech,” underlines Xavier Girard, head of expert advice Milleis Banque Privée.

The dynamic is never completely linear, he explains. “We are in a consolidation session, but that does not change the trend” on tech as a market driver.

In Europe, the Paris Stock Exchange ended down 0.71%, the Frankfurt Dax lost 1.31%, and Milan 1.07%.

Even the London Stock Exchange lost 0.40% despite oil stocks supported by crude prices (BP +1.83% and Shell +1.70%).

This is not “a panic sell-off, but clearly a session marked by risk aversion: oil prices rose sharply, concerns about inflation returned to the fore and markets once again had to factor in the possibility that the conflict over Iran and the Strait of Hormuz is transforming into a more lasting and damaging macroeconomic shock”, summarizes Patrick Munnelly, of Tickmill Group.

European stock indices were put under pressure “by the announcement of new Iranian strikes having affected certain parts of the Gulf, while hostilities are once again intensifying in the region”, comments Kathleen Brooks, director of research at XTB.

Iranian drones hit Kuwait airport on Wednesday, killing one and injuring more than sixty, the first fatal attack in the Gulf since the ceasefire.

Le petrole progresses

Oil prices are still rising on Wednesday, for the third consecutive session, after the attack in Kuwait.Â

Around 3:45 p.m. GMT, Brent from the North Sea, the world benchmark for crude, gained 1.42% to $97.36 per barrel, and its American equivalent, WTI, gained 1.60% to $95.26 per barrel.

The Strait of Hormuz, a strategic passage through which approximately 20% of the world’s hydrocarbon supply transited before the start of the war, also remains “subject to constraints, and energy markets still operate in a context of disruption, maintaining crude oil prices at high levels compared to to those observed before the conflict”, underlines Daniela Hathorn, market analyst for Capital.com.

“The longer the disruption around the Strait of Hormuz lasts, the greater the risk will increase that global oil inventories will become insufficient to compensate for supply losses,” notes Fawad Razaqzada, market analyst for Forex.com.

– Interest rates on the rise -Â

Persistent concerns about inflation fueled by high energy prices are pushing up interest rates on sovereign loans in the government debt market.

The yield on the “Bund”, the ten-year German bond, rose to nearly 3.04% against 2.97% the day before, and its French equivalent followed (nearly 3.67% around 3:45 p.m. GMT against 3.59% the day before).

In the United States also, “US Treasury bond yields rose slightly as investors prepared for a new round of major economic releases in the United States, while persistent tensions in the Middle East continued to darken the general climate of market”, notes Mr. Razaqzada.

The rate on the American loan with a 10-year maturity stood at nearly 4.49% compared to 4.44% on Tuesday.