Home » Omicron still sends the stock exchanges in red, eyes fixed on oil on the day of Opec +

Omicron still sends the stock exchanges in red, eyes fixed on oil on the day of Opec +

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(Il Sole 24 Ore Radiocor) Weak European stock markets, after the good performance on the eve of the day. After all, yesterday, December 1, 2021, Wall Street folded sharply especially in the last hour of trading, after the US authorities announced the first case of Omicron variant detected in the United States, to be precise in California. In addition, the top White House advisor on coronavirus, Anthony Fauci, has created discomfort by asserting that Omicron may be more transmissible and that it could exceed the protection given by the vaccine. In the United States, meanwhile, the Biden administration is preparing a new squeeze on entrances, with the obligation of a negative swab in the 24 hours before arrival even for the vaccinated. In any case, the WHO believes that the closure of the borders will not stop the international spread of the Omicron variant of the coronavirus and could indeed have counterproductive effects on the fight against the pandemic. Concern for the future moves of central banks also remains in the background, in light of the fact that inflation continues to run and therefore, as Fed number one Jerome Powell pointed out, it is no longer simply transitory. The banker has announced that the US bank will discuss in December whether to anticipate the tapering, which should end in June 2022. Analysts also fear that rates may be tightened as early as next year. Yesterday, however, final Treasury rates fell: 10-year rates, after having been on the rise for a long time and exceeding the 1.50% threshold, fell below 1.44%, reflecting fears for a slowdown in the economy. The Dow Jones lost 1.34%, the S&P 500 1.18% and the Nasdaq 1.83%. The Tokyo Stock Exchange also left 0.65% on the parterre. Milan loses about 1%, the spread stands at 135 points.

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Eyes on oil on OPEC day

The trend in the price of crude oil attracts attention while waiting for the decision of the OPEC + countries on production. The WTI is up well, although it closed down yesterday, reflecting fears about the economy, which could be held back by Omicron, and also by data on US inventories, which decreased. In November, the value of the wti left almost 21% on the parterre, accusing the largest monthly decline since March 2020, or the beginning of the pandemic.

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