- Asian stock exchanges have started the week with a new crash that is causing more than 7% falls in Australias S&P ASX, more than 5% in Tokyos Nikkei and Singapore’s STI and over 4% in the SZSE from Shenzhen, the Kospi from Seoul and the Hang Seng from Hong Kong.
- In Europe, the stock exchanges have opened the session by prolonging the sharp falls that the futures were already advancing throughout the early morning, and at noon it registered drops of between 6% and 7% for the FTSE 100 in London, the Eurostoxx 50, the German DAX and the Ibex 35, while the Milan Mib falls almost 10%.
- On Wall Street, the price of futures has been suspended when its collapse was close to 5%.
- In commodity markets, the price of oil has collapsed by more than 30%.
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The bags still do not lift their heads in the midst of a global crisis due to the coronavirus. After closing last week revalidating a new negative record since 2011, the week has begun with a generalized collapse in Asian exchanges that has moved to the opening of European markets, which add to the sharp reversals of Wall Street futures and raw materials.
In Asia, Australias S&P ASX has led the losses with a 7.33% drop, followed by the Indian Sensex, which lost 6.22%, the Nikkei of the Tokyo Stock Exchange, which was left 5.38%, the STI of Singapore, 6.1% and the Hang Seng of Hong Kong, 4.68%. Meanwhile, the Chinese stock market indexes recede more moderately, with the Shenzhen SZSE losing 4.09% and the Shanghai Composite 3.01%.
2 hours and a half after the bags have been opened in Europe, all the bags on the continent have heavy losses. In the Ibex 35, the falls exceed 5.86% and they have dragged the index below 8,000 points, placing it at around 7,890 integers, their lowest record since June 2016.
In the rest of Europe, the situation is repeated. In Germany, the DAX falls 6% at half an hour’s price, while in London the FTSE 100 is left 6.15%, the CAC 40 in Paris 6.26% and the Eurostoxx 50 lost 6.34%. Meanwhile, Italy has the biggest setback, where the Mib in Milan is falling around 9.5% after the Exceptional measures announced by his Government this weekend before the expansion of the coronavirus.
In the futures market, in which the European indexes had been collapsing during the early morning, The price of those on Wall Street has been suspended at around 11 in the morning, Spanish time, when they recorded falls close to 5%. Thus, with the Dow Jones futures they have closed leaving 4.87%, those of the S&P 500 4.96% and those of the Nasdaq 4.82%.
Meanwhile, in the raw material markets they stand out the strong setbacks of oil, which have reached 30%, its biggest fall since the Gulf War, And at the edge of the noon they register a price of 35.4 dollars per barrel of Brent crude, which represents a decrease of 21.7%, and 32 dollars per barrel of West Texas crude, 22.5% less.
Last week, the Ibex 35 recorded a weekly drop of 3.98% which has placed it below 8,400 points, although the decline rises to 15.28% in the last 2 weeks. Since February 20, when the first contagion was known in Europe, the Ibex 35 has left 16.94%, equivalent to more than 109,000 million euros in market capitalization.
The losses have been similar in other European places: Paris has fallen 15.91%, Frankfurt 16.30%, London 13.34% and Euro Stoxx has collapsed 16.38%. Taking into account the movements of the Asian and European markets, the trend will worsen throughout the week.