Storm on the markets, black Monday also for Piazza Affari

2020-03-09T17:55:26.086Z

Heavy collapse for markets all over the world. To the fears of recession for the spread of the coronavirus beyond China in Europe and in other continents, the sida on the production of oil has been added, which sees Saudi Arabia and Russia opposed. The price of crude oil has fallen to lows that have not touched since 1991, with a record drop close to 30 %%. Wall Street opened down with the Dow Jones and the Nasdaq falling back (with declines of over 6% for the Dow Jones and 5.5% for the Nasdaq at 5.30pm). In Europe Milan was the worst, with the closure at -11.17% while London, Paris and Frankfurt left around eight percentage points on the ground. Energy stocks mainly sold in Piazza Affari with Eni at -20.85% and Saipem at -21.50%. Bankers also suffered a heavy contraction with Unicredit at -13.44% and Intesa at -11.49%. The btp / bund spread rose to 224 basis points with our 10-year yield at 1.38%. The euro strengthened against the dollar, rising to 1.14 and 70 while gold - which reached 1700 dollars an ounce during the day - closed at 1670 dollars an ounce (equal to 48 euros per gram).