In Piazza Affari the collapse from the coronavirus is heavy, very heavy. From the 25 points reached on February 17, the Ftse Mib collapsed below 15 in just three weeks. After the -11,7% recorded in the session of 9 March, the main listing of the Milan Stock Exchange has sadly updated its negative record. That of 12 March 2020 will be remembered as the worst session in the history of Piazza Affari, with a drop of almost 17%. A -16,92% in Milan had never been seen before. Neither the day after Brexit, when in a single day the Ftse Mib lost 12,48%, a percentage that until yesterday represented the worst decline ever. The collapse of Lehman Brothers or the attack on the twin towers of 11 September 2001 in turn unleashed an impetuous panic selling, but not comparable to what happened on 12 March. All these days have in common, besides the fact that they have remained in the memory of investors, the fact that they are linked to events that have changed the face of global history.
THE WORST COLLAPSES OF THE FTSE MIB
As mentioned, the session of 12 March 2020 will go down in history as the worst ever. Broadening the horizon of analysis to the last three decades, the Ftse Mib has been the protagonist of other falls that deserve to be remembered. In second place, first until a few hours ago, is the red registered on 24 June 2016, when the main price list of Piazza Affari collapsed by 12,48%, beating the previous record of -11,76% dating back to 16 June 1981. In just 8 hours, the Ftse Mib lost over 2 points, falling to 15.723, weighed down by the collapse of the banks. The day before (it was 23 June 2016), the citizens of the United Kingdom had gone to the polls for the Brexit referendum, voting in favor of leaving the European Union and changing the history of the old continent.
LEHMAN BROTHERS
Al third place among the worst sessions of the last three decades (we do not consider the previous ones because the indices were different), the one of March 9, 2020 is placed. Three days ago, due to the coronavirus and the oil war, the blue chip index left the 11,7% of its value.
Fourth place for the session of 6 October 2008, the day in which the Ftse Mib lost 8,24% of its value and the world stock exchanges saw almost 445 billion euros volatilize. It had only been three weeks since the Lehman Brothers bankruptcy, but the markets had begun to realize that the largest bankruptcy in world history had already started to take its toll on the economy and industry, kicking off the global crisis. In the following months the Milan Stock Exchange scored other bad records: October 10, 2008 (-7,14%, sixth worst session since 1992), October 16, 2008 (-6,78%, eighth worst session).
ON 11 SEPTEMBER IN PIAZZA AFFARI
Fifth step of a podium that has nothing to do with the word "victory" conquers the performance achieved September 11, 2001, a date that doesn't need too many explanations. On the day of the attacks on the Twin Towers and the Pentagon, the Milan Stock Exchange closed -7,79%. It was only the first of the negative sessions that characterized that period: three days later, on 14 September, the Ftse Mib lost 6,68% (ninth worst session).
THE 2011 CRISIS
In seventh place of the meltdowns we find the -6,8% recorded on 1 November 2011, a date that this time has to do directly with Italy. We were in the middle of the sovereign debt crisis, a few days later the spread would have touched the historic record of 575 basis points and Silvio Berlusconi would have resigned as Prime Minister. On the other hand, a few months earlier there had already been the first signs: on 10 August Piazza Affari lost 6,65% with the spread at 500 basis points, on the 18th it dropped 6,15% (respectively at the tenth and twelfth place).
PIAZZA AFFARI: THE OTHER NIGHTMARE SEATS
- 30 March 2009: former US president, Barack Obama, issued an ultimatum to the automotive industry and in particular to General Motors and Chrysler. All the stocks in the sector collapsed and Piazza Affari paid a very high price, closing down by 6,57%, marking the eleventh worst performance in its history.
- 27 April 1998: Piazza Affari lost 5,98% by burning over 2 points in a single session.
- September 17, 1998 and August 25, 2015: -5,96 points.
- 21 September 1998: -5,75 points
(Last update: 12 March 2020, 18.00)
