• Covid-19. Restlessness in the Basque Country for the outbreaks of coronavirus transmission in several hospitals
  • Effects: Coronavirus unleashes the biggest drop in oil prices in 29 years

The coronavirus does not give truce to the markets either. The spread of contagion, the increase in the death toll and the fear of its effects on the economy continue to set the pace in the stock markets after two weeks of historical falls. This Monday things do not start differently. For the third consecutive week, the stock markets around the world are in free fall and in Spain the Ibex 35 has lost 8,000 points (7,850) by sinking more than 7% in the opening.

In these first minutes of quotation, the falls reach more than two digits in some values ​​such as Siemens Gamesa (-12%), Santander, IAG or Bankia, which exceed 10% lower. No value in the selective Madrid is saved from the red , while the risk premium skyrockets near 110 points, with the interest of the 10-year bond at 0.2%.

Falls are widespread throughout Europe. In Germany and the United Kingdom, the Dax in Frankfurt and the Ftse 100 in London exceed even the 8% retracements, while the Cac 40 in Paris and the Ftse Mib fit more moderate falls of -4%.

The Asian parquets had already indicated where these first minutes of quotation would go after also finishing with notable setbacks. The Tokyo Stock Exchange collapsed 5% on Monday; that of Seoul, more than 4% and that of Australia, more than 7.9%.

Together with the fear of the impact of the coronavirus, the falls today are marked by the collapse of oil after the price war that broke out last Friday between Saudi Arabia and Russia. Both countries made clear their disagreement on how to respond to the fall in demand for crude oil caused by the coronavirus and that led to the biggest price drop in 29 years.

The price of the Brent barrel, a benchmark in Europe, lost 31% at the opening of the Asian market, although later it moderated the losses to a range of 20% - 25%. At the opening of European markets, the cut is close to 24%, up to $ 34.46.

On the other hand, the price of a barrel of Texas crude oil, a benchmark for the United States, was down to $ 27.34, which implies a decrease of almost 34% compared to the end of last Friday, at $ 41.28 .

The price of the euro against the dollar was placed on 1.1425 green notes .

According to the criteria of The Trust Project

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