MILANO – The thud of Wall Street is also felt on the European stock exchanges. Yesterday, the US financial center recorded its worst session of the year, on fears that the Federal Reserve’s interest rate hike will not be enough to tame the record spike in inflation. The Nasdaq has filed the third largest point loss ever, stopping at -4.99%, after the ‘black’ sessions of 12 and 16 March 2020, at the beginning of the Covid pandemic. The Dow Jones left 3.12% on the ground at 4,152.38 points (with a daily loss of 1,033.07), the S&P 500 lost 3.44% to 4,152.38 points.
The news coming from the macroeconomic data is also not comforting. In Germany, industrial production fell sharply in March. Compared to February, the statistical institute indicates a decline of 3.9%, clearly worse than analysts’ expectations, who forecast a -1.3%. Compared to March 2021, the contraction was instead of 3.5% against expectations, he reports Bloombergof -0.4%.
Europe starts under pressure. Milano loses 0.41%, Frankfurt yields 0.58%, Paris loses 0.96%, London moves back 0.30%. Asia was also bad, with the exception of Tokyo, which rose after reopening after three days of closure for holidays.
In the meantime the race of rendiemnti and lo continues spread it reappears above 200 points. The Treasury output rate is 3.02%, with Germany’s bund having narrowed down by a few fractions, bringing the differential to reach the round figure and then returning to 199, again at its highest since May 2020.
Oil prices are still in tension
Oil prices are still in tension, after the decisions arrived yesterday from the OPEC + summit. The European reference Brent remained above 111 dollars a barrel, while the American WTI, with an increase of 0.6%, was close to 109 dollars.