Bags and oil collapse, Wall Street hurt

2020-03-09T15:34:23.186Z

Black Monday for markets around the world. To the fears of recession for the spread of the coronavirus beyond China in Europe and other continents, there is the challenge on the production of oil that sees Saudi Arabia and Russia opposed. The price of crude oil fell to lows that had not touched for years, with a record drop of 25%. Wall Street opened down with the Dow Jones and Nasdaq falling back more than 5%. In Europe Milan is the worst, yielding about 10 percentage points while London, Paris and Frankfurt leave almost 7 percent on the ground. Consob has declared that it has allowed the opening of the Italian stock exchange because there are no speculative signals and in this it has also had the support of the Ministry of Economy and Finance. In Piazza Affari, energy stocks mainly sell with Eni and Saipem at - 20%, but banks with Unicredit at -16% and Intesa at - 10% also go badly. The btp / bund spread rose to 205 basis points with the yield of our 10-year bonds at 1 and 33%. The euro is strengthening against the dollar at 1.14 and 15 while gold rises to 1673 dollars an ounce.