Tech stocks, the decline continues. Waiting for Powell's speech

2021-03-04T12:16:21.331Z

European markets remain negative, although they are improving from an hour ago when the decline was more than 1 percent. Now -0.5% for the Ftse Mib in Milan. London -1%, Frankfurt -0.5%. Stock markets follow overnight drops in Asia, where major indices fell by 2 percent overnight. In Asia they fell mainly due to the falls in technology stocks, as yesterday in the United States: -2.7% yesterday's closing for the Nasdaq index which mainly represents tech stocks. Slight drops for futures anticipating today's opening. Technicians punished in Milan too: -3.46% for StMicroelectronics, manufacturer of microchips, the biggest drop today. Unicredit, Fineco, Ferrari also dropped by more than 2%. This also happens because ten-year US government bonds have started to rise again (1.47%) and the theme of the possible return of inflation that dominated last week returns. Like last week, Fed Governor Jerome Powell's words are expected in a Wall Street Journal forum. Italian government bonds are also under pressure, the spread today reaches 105.