Il collapse of the stars and stripes big tech hits international markets. After the general weakness seen in Asia, also the European stock exchanges, which closed the session in the green on Tuesday in the wake of optimism about peace in Ukraine, travel in decline while waiting for news on the possible bilateral meeting between Russian President Vladimir Putin and his Ukrainian counterpart Volodymyr Zelenksy, but above all of the symposium of Jackson Hole which opens tomorrow. While a list of possible candidates for his seat emerges, all attention is on the chairman of the Federal Reserve, Jerome Powell, who in his speech on Friday is expected to open the door to an interest rate cut in September that traders at CME FedWatch now consider 85% possible. Meanwhile, the minutes of the latest meeting of the American central bank will be published this evening (20 p.m. Italian time).
The warning from the head of the ECB comes from the International Business Council of the World Economic Forum in Geneva. Christine LagardeThe euro area economy, after robust growth in the first quarter of 2025, was already showing signs of a slowdown in the second quarter, which is set to consolidate further: the tariff rates agreed with the US are "somewhat higher" than the ECB's estimates in June, and will be "taken into account in the new September projections that will guide our decisions in the coming months." Lagarde also explained that, in anticipation of Trump's tariffs announced in the spring, exports to the US had accelerated, which is now easing. On the macroeconomic front, in July UK inflation increased by 0,1% monthly and 3,8% annually; in Germany Producer prices decreased by 0,1% on a monthly basis (-1,5% on an annual basis).
Stock Market Today, August 20: Europe in the red after the collapse of big tech.
After the gains of the day before, with Business Square Above 43 points, its highest level since 2007, the FTSE MIB lost 0,35%. Red dominates (almost) all of Europe: Madrid scores -0,17%, Paris -0,2% Frankfurt -0,4%. London loses -0,2%. Only it is saved Amsterdam, which for the moment remains above parity (+0,2%9.
The stock market also closed in sharp decline. Tokyo, with the Topix losing 0,57% and the Nikkei dropping 1,5%. Among the worst performing stocks, the most notable is Softbank, which after yesterday's -4%, today collapsed by more than 7%, while Advanced, a maker of chip testing equipment, fell about 6%.
From Asia to Europe, the collapse of several big tech companies weighed down the stock markets (Nasdaq -1,46% in yesterday's session): Palantir, queen of the US tech rally, was the worst on the S&P 500 with a decline of 9,35%, Oracle infrastructures lost 5,8%, Nvidia 3,5% (the worst on the Dow), MetaPlatforms 2%, Amazon 1,5%, ecosystem 1,4%, A 0,9%. Only the stock that was saved from the sell-off was Intel, best stock on the S&P 500 with a rise of almost 7%, after the announcement that SoftBank to invest about $2 billion in chip companyThe stock also received a boost from news that the U.S. government is considering acquiring a stake in Intel, amounting to approximately 10%.
In Milan Leonardo tries to rebound
At Piazza Affari, among the worst performers on the list are Prysmian (-2%), Saipem (-1,55%) And Amplifon (-1,33%). Profit-taking in luxury goods after the previous day's purchases: BRUNELLO CUCINELLI (-1%), Moncler (-0,7%). Bad too Stellantis (-0,7%), the banking sector is weak on the eve of the Mediobanca meeting called to decide on the takeover bid launched on Banca Generali: Unicredit scores -0,7%, Bper -0,9%, it is saved instead Ps (+0,25%). According to theHandle, citing financial sources, Delfin could increase its stake in the Sienese bank to nearly 20%. The ECB has reportedly granted the Del Vecchio family's holding company authorization, which arrived on August 12, to hold a stake in MPS up to 19,99%, up from the current 9,9% of the Tuscan institution. Meanwhile, again thanks to Delfin, the Membership in MPS's takeover bid for Mediobanca has risen to 19,4%..
Among the other stocks highlighted on the Ftse Mib, after a start at -2% and the collapse of the day before (-10%) in the wake of the possible de-escalation of the war in Ukraine, Leonardo attempts a mini rebound and rises by 0,68%.
Utilities are in positive territory, starting from Snam (+ 0,89%) and Italgas (+0,6%). Salt 0,26% Enel which is moving towards the early renewal of the concessions in Rio de Janeiro. Weak Iveco, which moves to parity after Tata Motors filed the offer document with Consob.
Euro, oil, gas, spreads: how other markets are doing
On the foreign exchange market, the greenback strengthens: the euro is worth 1,63 dollars (from 1,1668 yesterday at the close). It recovers the Petroleum, after the declines of the day before, with Brent above 66 dollars a barrel (+1%). Cautiously rising gas at around 32 euros per megawatt hour in Amsterdam. Slightly up – from 82 to 83 points – the spreads, with the yield on the benchmark 3,576-year BTP reaching a top position at XNUMX%, essentially unchanged from the previous day's reference rate.
