Mais qu’est-ce qui fait bouger les marchés ?

Depuis le 10 mai environ, la plupart des marchés mondiaux ont accusé de forts déclins cumulatifs, notamment dans les deux semaines autour du 23 mai, avec en moyenne des cours qui persistent à la baisse. Des soucis sur les marchés boursiers mondiaux sont-ils synonymes de soucis pour l’économie du monde ?

Considérons les baisses les plus marquées. Parmi les principaux pays, le crash le plus impressionnant est celui de l’Inde, où les cours ont chuté de 16,9% entre le 10 mai et le 22 mai. La débâcle de l’autre côté du globe a pris presque autant d’ampleur. Là, les hauts et les bas n’ont eu que quelques jours de décalage avec ceux de l’Inde : en Argentine, les cours ont chuté de 16,1%, au Brésil de 14,7% et au Mexique de 13,8%.

Les marchés européens ont eux aussi essuyé de grosses pertes. En suède, les cours ont dégringolé de 15,2% entre le 9 mai et le 22 mai ; pratiquement sur la même période, ils ont chuté de 9,7% en Allemagne, 9,4% en France et au Royaume-Uni et 9,3% en Italie. En Asie, les cours ont baissé de 11,5% en Corée, de 9,3% à Hong Kong et de 8% au Japon à peu près sur la même période.

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