The collapse of the banks drags the Ibex 35 before the financial doubts coming from Wall Street

The Wall Street tremor the day before is having its aftershocks this morning in the main European stock markets and the banks, as in the US, are being the main victims of the earthquake.

, but they have exceeded 2% in the first hours of trading and at this point it is a battle to maintain the 9,200 points.

The epicenter of the movement is in the financial sector of the United States.

At the closure of Silvergate, a regional credit institution based in San Diego derived from the recent bankruptcies associated with the world of cryptocurrencies, the problems of SVB Financial, a Silicon Valley entity that capitalizes 20,000 million dollars and It is dedicated to financing startups.

The entity announced an accelerated placement for 1,750 million with a view to strengthening its capital ratios after verifying the decrease in deposits in it and its shares plummeted by 60%.

The Banca Marcha Analysis team explains that "although it seems like a limited problem, with these falls the market seems to be wondering if the pain associated with such a vertical rise in rates accumulated since 2022 is beginning to spread, from riskier market areas such as cryptocurrencies , to more traditional financial areas".

Precisely the most traditional entities are the ones that are taking the biggest falls this morning.

On the Spanish stock market, Banco Santander was close to -4.7%;

Bankinter exceeds -4%, followed by Banco Sabadell and BBVA, which are also close to that level.

Unicaja, for its part, left 2.4% and CaixaBank moderated the falls a little below 2%.

The falls occur barely a week before the European Central Bank (ECB) meets again next Thursday, March 16, and predictably announces another rate hike that would place the deposit rate at 3%.

"Comments from many ECB members indicate that even this rate hike would not be the end of the road. The core inflation rate, which rose to 5.6% in February, is likely to have alarmed Governing Council members the ECB, especially given the prospects that it will continue to rise. On the other hand, the labor market remains strong, wages will rise and labor shortages will also continue to cause upward wage adjustments," says Ulrike Kastens, Economist

for DWS.

Pending the conclusions that come from Frankfurt, the rest of the European stock markets face the closing of the week in negative.

The Italian Ftse Mib, which shares the great weight of the banking sector with the Spanish, is also close to falls of 2%, compared to the Frankfurt Dax (-1.4%) and the Paris Cac 40 (-1.2%). that soften the descents.

This Friday, the markets are also waiting to see the official employment report in the United States this Friday, after the president of the Federal Reserve (Fed), Jerome Powell, transferred to the Congress of the North American country that the amount of the The next rate hike -scheduled for March 22- has not yet been decided.

quality oil

, a reference for the Old Continent, stands at 81.09 dollars, with a decrease of 0.61%, while Texas traded at 75.08 dollars, a 0. 85% less.

In the foreign exchange market, the price of the euro against the dollar stood at 1.0598 'green bills', while the Spanish risk premium stood at 101 basis points, with the interest required on the ten-year bond at 3.518%. .

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