The Ibex 35 loses 5% in free fall with oil soaring due to the increase in tension in Ukraine

• Direct War Ukraine - Russia, breaking news

The

closed its worst week since the start of the pandemic on Friday with a decline of 9%, but it has not started better this Monday.

The main selective of the Spanish stock market falls more than 5% in the first stages of the session and borders on the possibility of losing 7,300 points due to the increase in tensions in Ukraine and the escalation of oil.

The US has begun to discuss with the European Union and the rest of its allies the possibility of prohibiting imports of Russian oil as a new measure of pressure against Russian President

, and this has pushed crude oil to 2008 highs. Specifically, The price of

quality oil , a reference for Europe, has reached this Monday on the verge of 140 dollars after soaring almost 20% at the beginning of the session due to fears that the United States may impose restrictions on the sale of Russian crude.

In the case of

(WTI) crude oil, a reference in the US, the price of a barrel reached 130.5 dollars, compared to 115.68 dollars at the end of last week.

The uncertainty and the rise in oil, however, hit the main European stock markets hard, which follow the line of the Spanish and leave up to 5.6% in the case of

and 4.8% in the cases of the

in Paris and the D

.

The free fall of the Ibex 35 is led by the airline conglomerate

(-10.8%), which once again symbolizes the risks of the new crisis for the tourism sector.

Not surprisingly, the Meliá hotel company also lost almost 9% and Amadeus, more than 7%.

Along with these stocks, others such as

(-9.8%),

or

also recorded significant setbacks and following in the wake of the previous week, Inditex fell is again among the most affected by the flight of investors.

The textile empire of Amancio Ortega falls almost 9% at the start of the session after announcing on Saturday that it will temporarily close the 502 stores it has spread across Russian territory and that it will also paralyze its online sales services.

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Know more

• War Ukraine Russia

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