Stock Exchange: Milan slips in the wake of political tensions and closes at -3.44% – Economy

There Milan Stock Exchange it sinks with the political crisis it has brought Prime Minister Mario Draghi to go up to the Quirinale. The Ftse Mib closed, in a session of great tension, leaving 3.44% on the ground at 20,554 points.

In smoke 17 billion in terms of share value. The spread between BTP and Bund contains damages. After touching 218 points during the session, at closing the differential marks an increase of 206.6 points compared to yesterday, while maintaining the levels of today’s opening. The Italian 10-year yield is stable at 3.2%.

Also Wall Street proceeds negative. The Dow Jones loses 1.51% to 30.309.20 points, the Nasdaq drops 1.19% to 11,119.04 points while the S&P 500 leaves 1.37% on the ground at 3,749.56 points.

L’EUR appears nervous with the lists in tension due to the growing fears of a global recession. The single currency returns to exchange on parity with the dollar and changes hands to 1.0016 on the greenback.

The persistent ones tensions geopolitics and fears about the effects they will have on eurozone growth, fears of global recession and risk aversion in global markets are putting pressure on the stock exchanges and fueling the strength of the dollarpushing the exchange rate with the single currency to par.

Meanwhile in Italy, it is the common opinion of the analystsit is not a time of crisis“with the PNRR to be brought to fruition.” One recession in the eurozone would lead the ECB to cancel its normalization plans. A recession in the United States is also a material risk, which could at least temporarily favor the euro by putting a brake on expectations of rate hikes in the United States as well, “they add.