Piazza Affari was doing well, up by almost 1%.
All this until 2.30 pm, when the data on American inflation arrived.
Then like all the other exchanges it fell, and closed at -1.36%.
Inflation which in August was 8.3%, down from 8.5% in July, but economists expected it to drop more, to 8.1%.
Not only that: basic inflation, or core inflation, purified from energy and food prices, has risen more than expected (from 5.9% to 6.3%).
All this suggests that the American central bank will accelerate or not decelerate the rate hike.
And for this reason, on Wall Street, the Nasdaq of technology stocks falls by 4%, the Dow Jones by more than 2.5%.
Among the stocks in Piazza Affari, bankers held today (-0.51% for the sector index), while real estate companies did badly (-2.11%), which are penalized by the prospect of an increase in rates, and technological ones (-3.23%), which are based on prospects for future growth at high rates.
Among the other effects of the data on inflation there was the increase in the yield of government bonds, in the United States, but also in Italy, where the yield of the BTP is back close to 4% (3.98%), with the BTP / Bund spread slightly up, to 226 basis points.
The dollar is also appreciated.
The euro has lost about 1% against the dollar, it is now just above parity, worth $ 1,0004.
Gas this morning had dropped to 181 euros per megawatt hour, and is about to close trading above 200 euros, at 204 euros, + 7%.