The Ibex 35 falls 2%, to 6,630 points, after marking an intraday low of 6,500 integers. The latest data on the coronavirus in our country show that there has been a slight decrease in the number of daily deaths and that the percentage of new infected is decreasing. The Government of Spain has announced this weekend stopping all non-essential activities from this Monday to Thursday, April 9. On the other hand, the President of the United States, Donald Trump, It has extended until April 30 the measures against the coronavirus.
“Nothing would be worse than declaring victory before victory has been obtained”Trump said at a nightly news conference, suggesting that the death rate from the virus was likely to peak in two weeks.
Meanwhile, in Europe, the number of coronavirus deaths in Italy fell for the second consecutive day on Sunday. The country’s closure seems certain to continue beyond April 3. The virus it has already infected more than 720,000 people worldwide and has caused at least 33,925 deaths, according to data collected by Johns Hopkins University.
Asia has fallen this morning, although the declines have been cut in the last bars of the session (China’s central bank has cut rates and injected $ 7 billion into the economy). The red numbers of this Monday in Europe come after closing in green last week amid strong measures by governments and agencies to curb the economic impact of the disease, and also while in Italy the situation seems to be ‘improving’.
Experts stress that this week there will be evidence of the magnitude of the economic impact of the coronavirus, with the publication of PMIs worldwide. “Especially in the US, where we will get the ISM figures (manufacturing on Wednesday and non-manufacturing on Friday) and the employment report on Friday (although the figures were collected before the bulk of the virus closures were implemented) “explain the experts at Danske Bank.
Otherwise, underline that Fitch downgraded the UK from ‘AA’ to ‘AA-‘ on Friday. This is due to the significant increase in fiscal spending as a result of the coronavirus, as well as uncertainty about the post-Brexit trade relationship with the EU. In addition, the agency follows Moody’s and worsens his opinion of Spanish banks.
In other markets, West Texas oil has lost $ 20 for the first time in 18 years. At this time it falls 5% while Brent drops 8%.