the economic consequences of The Coronavirus epidemic and the collapse of the oil price to put the stock exchanges of the week to kick off hard. Europe's stock markets to give at the start of trading significantly. The Swiss stock index SMI is losing until shortly after 9 p.m., almost 7 percent.
at about 9.20 PM on Monday, the SMI fell to 5,69 percent to 9183,06 points. The percentage of two digits, it went intermittently for financial values down. Most of the financial suffering title. UBS and Credit Suisse lost in early trading by 10 percent and fell to less than 9 Swiss francs. For the load, the decline in yields of US government bonds provide: low yields mean lower revenue for the financial institutions.
Also the German Dax plunged at the opening on Monday and up to 7.8 percent to a 10'637 points. The Index headed for the biggest daily loss since more than 18 years of age.
"no later than today, Monday morning, the financial switched to markets in the panic mode," said Milan Cutkovic, a market analyst at the brokerage firm AxiTrader. "The magnitude of the collapse shows that any hope of a temporary respite was in vain," said the currency strategist Sean Callow of Westpac on Monday.
In the course of the weekend have shown the messages to the Coronavirus that it is expanding more and more, and thus the economic consequences, is becoming more and more difficult. In the particularly strongly affected Italy, whole regions and cities are on lockdown in the North.
For the topic: "The Virus crisis has the potential to be a world recession Economist Klaus Wellershoff about the game room, the SNB has yet to trigger".
In Japan, figures to be worse than previously adopted in the economy, the stock markets. The 225 values comprehensive Nikkei Index was in the course of 6.2 per cent lower in 19 of the'473 points and closed only slightly higher. The broader Topix Index declined to 6.1 percent, and was at times even with 1382 points. The stock market in Shanghai was 2.2 per cent in the Minus. The Index of the most important companies in Shanghai and Shenzhen, lost around 2.5 percent. The MSCI Index for Asian stocks outside Japan fell 2.5 percent.
The stock market in Australia, with a Minus of 5.6 percent in the course of their strongest decline since November 2008. Worse, as the increasing number of Coronavirus cases in the country, the uncertainty about the location of the most important trading partner, China interactive, says James Mcglue of Argonaut. The Oil crisis was coming. "The fear is by far the most important factor in the market."
The weekend started the oil price war between Saudi Arabia and Russia, the prices for the main varieties had a break of about 30 percent. Investors sought refuge in Gold, whose price rose above the mark of $ 1700 per Troy ounce. US government bonds were in demand. The yield on the ten-year paper fell to a record low of 0.5 percent; the yield on the 30-year government bonds slipped below one percent.
In the Asian currency trading, the pace of the Dollar 2.7 percent to 102,47 Yen and stagnated at 6,9286 Yuan. The Swiss currency traded 0.9 percent lower at 0,9289 francs. In Parallel, the Euro rose one percent to 1,1397 dollars, and put on 0.1 percent to 1,0592 francs. The pound Sterling gained 0.2 percent to 1,3067 dollars.
see also: A six-fold Giftmix for the world economy Increasingly the talk is of an impending recession due to the Coronavirus. The world was also ready earlier. Dangerous this time is that a whole series of factors come together.
Created: 09.03.2020, 09:07 PMUpdated Date: 09 March 2020, 09:03