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As if the Stock Exchanges were not enough with the pressure of the coronavirus, the US and China have added in the last days one more component: the trade war. It is not something unknown; Not surprisingly, the confrontations between both countries over this issue were continuous in 2019 and that shock marked the climate of the markets throughout the year. New now is the time when the two great powers have decided to rekindle the tension, with the recession hitting hard in much of the world's economies.

With that climate as a background, the European stock markets have resumed pessimism and have started the week with falls of over 3%, following in the wake of Wall Street since last Friday.

That day, US President Donald Trump warned of the possibility of retaliating against the Asian giant for the alleged responsibility of the Beijing Government in the origin of the Covid-19.

The message crossing intensified over the weekend. Mike Pompeo , the US secretary of state, said Sunday that there was evidence that the virus had come out of a laboratory in Wuhan, the city where the first infections of the virus were detected. "There is a tremendous amount of evidence that this is where it started," Pompeo said. "I think everyone can see it now. Remember, China has a history of infecting the world and running poor quality laboratories," he added. China has responded through a Global Times editorial asking that it show evidence of such an accusation.

In this way, the US Administration continues to encourage the theory of artificial creation of the virus, despite the fact that various scientific sources have rejected this possibility.

Actually or not, this position encourages a scenario of commercial shock that would aggravate the consequences that are already being felt by the impact of the pandemic on consumption and on the global economy. And investors are no stranger to them, hence the falls that have occurred this Monday.

In Spain, the Ibex 35 has dropped 3.4%, which has led it to lose 6,700 points (6,687) with all its negative values ​​except for Telefónica (+ 2.85%), which has recognized the negotiations with Liberty to merge its UK businesses. Merlin Properties (-8.2%) and the air conglomerate IAG (-8%) were the most affected values, closely followed by Repsol (-7.8%).

The falls were even more pronounced in the case of the Cac 40 in Paris (-4.24%), the Dax in Frankfurt (-3.64%) and the Italian Ftse Mib (-3.7%). Only the London Ftse 100 index has been unmarked with a decrease of 0.16%.

In the oil market , the turmoil has also been noticeable early in the session, especially in the US, although the price of crude oil has managed to rise as the session has progressed. The barrel of West Texas Intermediate (WTI), which is taken as a reference in the country, fell by around 6%, although at the close of European markets it added 0.2% and was close to $ 20 per barrel; that of Brent, a benchmark in Europe, also advanced 0.4% and slightly exceeded 26.5 greenbacks .

As for debt, the Spanish risk premium stands at 132 points, with the yield on the 10-year sovereign bond at 0.76%, compared to -0.55% for the German bund that is taken as a reference.

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