Uber Technologies shares opened down 6.7% to $42 on Friday for its Wall Street debut on the biggest IPO in New York since Facebook seven years ago.
However, the VTC platform had chosen to be cautious in setting the price of its IPO at the low end of its indicative range at $ 45 per share, valuing the group at a little over 82 per cent. billions of dollars.
Trade fears weigh on Wall Street
The New York Stock Exchange opened lower on Friday, undermined by fears over ongoing trade talks in Washington after rising US tariffs on Chinese products.
The Dow Jones index lost 116.27 points, or 0.45% to 25,712.09 points, and the Standard & Poor’s 500, wider, down 0.33% to 2,861.14 points.
The Nasdaq Composite yielded 0.37% to 7,881.31 points at the opening.
Donald Trump enlisted on Friday his threat of tariff increases on $ 200 billion of Chinese products, further strengthening tensions between the United States and China, ready to respond.
Investors fear that negotiations, ongoing since Thursday in Washington, are unsuccessful after a message from the US President on his Twitter account in which he says there is “absolutely no need to rush” to reach an agreement, adding that talks with China are continuing in a “very cordial way”.
Boeing, the largest US exporter in China, loses 0.80% and Caterpillar sells 1.30%, among the largest declines in the Dow Jones.
On the indicator side, consumer prices in the United States were up slightly in April, but underlying inflation remained low, suggesting that the Federal Reserve could leave interest rates unchanged for some time. .
The US dollar loses 0.15%, at a one-week low, against a basket of international currencies, while it was at equilibrium before the statistic.
On the bond market, the 10-year US has temporarily increased its losses to 2.443%, its lowest of the day, before returning close to its initial level, at 2.499%.
Kiaan Ahuja is a reporter focusing on money in politics. Before joining Exports India he worked as a researcher and writer Dainik Bhaskar and as a freelance journalist for publications around the world, having been published by over 20 outlets including NPR, The Huffington Post, Salon, Truthout and VICE.com.