After a positive opening that boded well in the wake of the oil rebound, Wall Street turns negative, bringing back European stock markets, primarily Piazza Affari which, less than an hour after the close, dropped 3,08% to 17.369 points. after having touched a drop of 4%.
Currently, the Dow Jones is down 1,04%, while the S&P 500 and the Nasdaq are down 1,44% and 1,79% respectively.
The publication of the ISM index of services contributed to sinking the American indices, which slowed down further in January, stopping at 53,5 points, a heavy decline compared to December (55,8 points) and missing analysts' forecasts who expected a result of 55,1 points. The data strengthens markets' belief that the Federal Reserve can avoid another rate hike in March and in parallel weakens the dollar, putting money back on Treasuries whose 10-year yields slip even lower to their lowest since April.
Wall Street's red widens the losses of the Old Continent's stock lists: London loses 2,04%, Frankfurt 2,2%, Paris 2,27.
But the black shirt of Europe is worn once again by the Ftse MIB, whose decline is now nearly 4%. The banking sector led by Banco Popolare is still pushing the decline by 10,14%. UbiBanca (-7,96%), Banca Pop Milano (-6,82%) and Banca Pop Emilia Romagna (-6,80%) are also bad. Mps was unable to make the price and is now selling 6,67%,
Yet another collapse for Saipem's capital increase rights which, less than an hour after the closing, show a decrease of 37,67%.
