Marchés contre psychologie de marché

La brusque chute de la bourse chinoise de la journée du 27 février a apparemment eu un effet durable sur la plupart des marchés boursiers mondiaux. À la clôture, à 7h00 GMT ce mardi-là, le Shanghai Composite Index avait subi un déclin de 8,8 % – la plus grande chute en une journée en dix ans pour la Chine.

Une série de déclins dans les autres pays a immédiatement suivi. À Singapour, le Straits Times Index avait perdu 2,3 % à la fermeture. À Bombay, le Sensex 30 a chuté de 1,3 % ce jour-là. À Moscou, l’index RTSI accusait une chute de 3,3 % à la fermeture. À Londres, le FTSE 100 avait chuté de 2,3 % à la clôture. À Sao Paolo, l’index Bovespa avait marqué un déclin de 6,6 %, et à New York, le Dow Jones Industrial Average de 3,3 %, à la fermeture de 21h00 GMT.

Ces baisses sont conséquentes – le Dow, par exemple, n’a connu de chute journalière plus importantes que 35 fois depuis janvier 1950, soit une fois tous les vingt mois. En outre, deux semaines plus tard, tous ces marchés en dehors de la Chine avaient baissé de 4,3 % à 7,8 % comparé aux résultats de fermeture du 26 février.

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