• The Ibex loses 20.9 billion euros in a 'black Monday' for fear of the coronavirus

After the stock market storm on Monday, the falls in Europe are repeated on Tuesday, although softened. Caution about the expansion of the coronavirus in countries outside China is imposed among investors, who try to gauge the impact of the disease on the economy. If yesterday tourism or manufacturing were the sectors most punished by doubts, in this session it is the banks that are the most hit.

Reason is again a hypothesis, like almost all forecasts made these days. Ignorance of the disease and its duration makes it almost impossible to make a forecast of its final impact on the economy; however, more and more analytical houses and agencies suggest that the recovery planned for this year is in question.

That new slowdown could force central banks to intervene, further delaying the rise in interest rates or even raising new rebates. "In more general terms, global monetary policies are inclined towards flexibilization, which will help support growth if the coronavirus persists and becomes a risk of recession," says Salman Baig, manager of Unigestion.

This, which for now is only a hypothetical scenario, would directly impact the situation of banks, which already recognize difficulties in achieving profitability with the current rate landscape, and that explains why financial institutions are from the first hour among the values ​​with greater falls in the bags.

Especially in Spain. Banco Sabadell (-3%), Bankia (-2.5%), Bankinter (-2.42%), CaixaBank (-2.25%), Banco Santander (-2%) and BBVA (-1.63% ) they are on the way back to the middle session and they place the Ibex as the index with the worst performance in Europe, worse than even the Italian Ftse Mib , which yesterday suffered the increase of the cases of coronavirus in the country and led the crashes in the region .

The Spanish selective retreats more than 1.20% after noon, compared to the -0.57% that the Milanese index falls, -0.78% of the German Dax or -0.84% ​​of the Paris Cac . Of the other large values, others affected by the effects of the disease such as Repsol (-1.5%) or Inditex (-1.22%) recorded losses, in line with Iberdrola (-0.87%) and Telefónica (- 0.63%).

Another edge that is dotted with the behavior of Covid-19 is oil , whose price continues to fall. The barrel of Brent (of reference in Europe) falls on Tuesday around 0.5% and is changed to 56 dollars; the euro depreciated to $ 1,083 and the long-term Spanish debt yield was 0.21%, with the risk premium at 72 basis points

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