The wave of the Covid-19 epidemic spreads around the world and reaches the bags
- Despite the increase in deaths in China and the progressive spread around the world, the impact of China's Covid-19 flu had not been noticed for weeks on the world's stock exchanges and was one of the arguments to believe that it could be on its way to controlling the epidemic in some brains, as there is nothing more fearful than money, they said. This Monday, February 24, the stock exchanges have plummeted as the number of deaths and pollution in South Korea and Italy increased, according to official sources.
Bags around the world have started on Monday morning with losses of more than 2% worldwide. In Italy the MIB lost 4%, the Spanish Ibex lost 3%, Paris, London and Frankfurt also lost 3%... Asian bags have kept the same tone during the morning and in the afternoon you will see the trend taking those of the United States and Canada. As far as oil is concerned, the Brent barrel has suffered a decrease in the same percentage in the morning.
As far as Europe is concerned, the drop in the stock market suggests that major investors have begun to take into account that the Covid-19 coronavirus will also affect the erurophilic companies. In recent months it was eye-catching, for some people to understand, even though the growth of the world economy was slowing down more and more in the markets where the stock exchanges were maintaining their growth. Now that the earthquake caused by the coronavirus is added to the blackout, we will have to see the trend of the money in the coming days, especially considering that the central banks and the authorities already have limited instruments to deal with any new crisis, as suggested by this expert:
.#CrownVirus shock is a test of the technicals (FOMO/Buy-The-Dip habiting) that helped #stocks fundamentals/valuations headwinds.
A key elemis whether #markets distinguish between #CentralBanks' willingness (high) and ability (low) to counter the economic shock.
— Mohamed A. El-Erian (@elerianm) February 24, 2020
However, in the accounts of the Johns Hopkins Institute the deaths so far (24 February, 13:03 at noon) amount to 2,626 and those infected to nearly 80,000. In China there is a lot of work, beyond regional quarantines and blockages, while the virus continues to put barriers to the epidemic and spread throughout the world. Despite the data that has been disseminated from Iran (there are several sources that speak of 50 fatalities, the authorities have replicated limiting the number to a dozen), those who really care about the inhabitants of the rich North are those of Italy (4 dead, 215 infected) and South Korea (8 dead, 833 infected).
