Penalized by fears of recession, European stock markets are expected to open lower. The Eurostoxx 50 opens at 3,328.65 points (-0.42%), the CAC 40 at 5,753.82 points (-0.27%), the DAX 40 at 12.139.68 points (-0.72%), the FTSE 100 at 6,984.59 points (-0.52%), the SMI at 10,126.43 points (+0.53%), the AEX at 642.72 points (+0.36%), the BEL 20 at 3.390.90 points (+0.05%), the IBEX 35 at 7,445.70 points (-0.84%), the DJIA at 29,134.99 points (-0.43%), the Nasdaq at 10.829.50 points (+0.25%), the S&P 500 at 3,647.29 points (-0.21%) and the Nikkei 225 at 26,010.45 points (-2.11%).

In terms of exchange rates, the change from the close mentions that in New York, EUR/USD is at 0.9552 (-0.46%), EUR/JPY at 138.20 (-0.54%) and USD/JPY at 144.69 (-0.08%).

On Wednesday, September 28, investors are paying attention to the September household confidence data. As for companies, TotalEnergies is organizing a second investor day, this time devoted to the group's strategy and outlook.

Orpea and Solutions 30 are presenting their half-yearly results while Nexity is also holding a day dedicated to investors. On the evening of Tuesday 27, the leisure vehicle manufacturer Trigano announced an increase in its turnover in the fourth quarter of its financial year, thanks to its acquisition policy. Supply delays with car manufacturers have continued to weigh on its sales. As a result, the group has indicated that it is considering new targeted acquisitions and measures to improve its productivity and control costs.

At the opening on Wednesday 28, in Europe, equity markets are expected to lose ground. Investors, for their part, remained concerned about the deteriorating economic outlook. According to data from broker IG Markets, the CAC 40 futures contract was down 51 points, or 0.9%, at 7:35 am. For its part, the FTSE 100 contract was down 66 points, or 0.9%, and the DAX 40 lost 155 points, or 1.3%. According to analysts, the recent decline in equity markets is caused by rising bond yields and the appreciation of the dollar, which worries investors.

On Tuesday 27, Wall Street closed in the red. It was caught up in recession fears that had sent the Dow Jones index into bearish territory the day before for the first time in two years. Since the Fed's announcements on the need to keep interest rates permanently high to stave off inflation, the Dow Jones and S&P 500 have lost ground for the sixth straight session under pressure. The major Asians retreated on Wednesday 28, following in the footsteps of the US stock markets. The Nikkei index of the Tokyo Stock Exchange gave up 2.3%, as did the Hang Seng index in Hong Kong and the Shanghai Composite lost 1.3%.

On Wednesday the 28th, U.S. Treasury bond yields rose in the morning. According to UBS Global Wealth Management, this progress is explained by "expectations of further monetary policy tightening". Also, according to the financial intermediary, this progress comes "from the fact that over the past month, the market has understood that central banks, and in particular the Federal Reserve, are not about to change course.

Supported by rising U.S. Treasury yields, which increase the attractiveness of dollar-denominated fixed income assets, the dollar is advancing on Wednesday morning 28 against the euro. For CMC Markets, the surge in rates is allowing the greenback to advance and weighing on stocks. In an effort to curb inflation, many Fed officials remain supportive of "higher rates for an extended period" while recent U.S. economic indicators have been stronger than expected. On Wednesday morning, the euro was trading around $0.9560, a level not seen since mid-2002, as the Chinese yuan fell to a historic low against the dollar. For the first time since its inception, the Chinese currency has fallen below 7.2 to the dollar. Despite repeated attempts by the Chinese central bank to support its currency, the offshore yuan has lost about 12% against the dollar since the beginning of the year.

In the morning of Wednesday, September 28, oil futures retreated, hurt by the rising dollar. However, this decline could be limited because Hurricane Ian is approaching the United States and disrupting oil and gas production in the Gulf of Mexico. The Opec+, a group comprising the Organization of the Petroleum Exporting Countries (Opec) and ten allied countries led by Russia, may decide to reduce its production at its meeting on October 5 in response to the recent drop in oil prices. The November contract on the light sweet crude (WTI) listed on the Nymex fell by 0.98 dollars, to 77.52 dollars a barrel while that of the same maturity on the Brent North Sea lost 1.13 dollars, to 85.14 dollars a barrel.