Stock markets in sharp decline, Milan the worst. New fears for the Delta variant

2021-07-08T19:09:28.573Z

Today the markets are in sharp decline. Asia began and Europe continues. Milan (-2.73%) is the worst in Europe together with Madrid (-2.26%) and Paris (-2.37%) per cent. Yesterday the Ftse Mib in Milan closed with a slight progress. The decline here stems from multiple factors. These include fears for the Delta variant of Covid, which are leading the Japanese government to extend the state of emergency in Tokyo for the duration of the Olympics. The Tokyo stock exchange closed down 0.88%. On the other hand, the restrictions announced by the Beijing government on the listing of Chinese companies abroad weighed on the decline in Hong Kong (-2.79%). Technological stocks, which often have a double listing, in Hong Kong and on the Nasdaq in New York are particularly affected. Futures that anticipate thethe start of Wall Street (around -1.4% for all three indices), which yesterday reached an all-time high. The publication of the minutes of the last Fed meeting may have played a role.While there have not been very clear signals in one direction or the other, fears of an early reduction in stimulus policies seem to be prevalent among investors monetary. At 2.30 pm eyes on the ECB. Its president, Christine Lagarde, will announce the new strategy of the European Central Bank. The inflation target should move from "below but close to 2%" to exactly 2%, which would imply some more leeway for support policies. Among the titles of the Ftse Mib, no one is up. The biggest drops for StMicroelectronics (-4.4%), tech sector, and Moncler (-4.2%),luxury sector. Among the stocks, Stellantis (-3.38%), which today will unveil its strategy on the electrification of cars, is under observation.