The Ibex 35 has dropped 1.29% to 6,545.60 points, although the selective has fallen more than 3% to 6,421 points. The index has tried by all means to grab the important support of 6,580 points, since its loss would open the way to the lows of March, at 5,800 points. Fear of the virus's outbreak and its economic impact - yesterday Jerome Powell warned that we are facing "the worst recession since World War II" - has investors grieved.
- 10.975,700
- -1,13%
Jerome Powell also said Wednesday that policy makers may have to use additional political weapons to lift the country out of an economic sludge that has cost at least 20 million jobs and caused "a level of pain difficult to grasp in words." .
"While the economic response has been timely and adequately comprehensive, it may not be the final chapter, as the path ahead is highly uncertain and subject to significant setback risks," he added.
Bolsamanía experts warn: "Either things change immediately, or I'm afraid we are going to have to suffer more than the others in the next days / weeks. We rebounded less than our neighbors on the Old Continent, and let's not talk about the Wall Street indices. If they correct the part of the last rebound, it is easy for us to return to the lows for March, at 5,800 points, "warns José María Rodríguez.
This Thursday the weekly unemployment data was published in the United States. 2.5m unemployed are expected, representing a drop from 3.16 million last week. Today the CPI for April in Germany has been known (+ 0.9% compared to + 0.8% expected) also Spain's (it falls into negative at -0.7% in an "unpublished" April). At the business level, the results of MásMóvil or Audax have been announced.
Across the Atlantic, Donald Trump has stated that the warnings by the coronavirus health expert Anthony Fauci about the economic reopening are not "acceptable." Fauci said on Tuesday that "suffering and death" could be a consequence of a reopening of the economy too quickly. In addition, also in the US, Democrats have presented a new economic stimulus plan to deal with the $ 3 trillion Covid-19. The proposal has been presented in the House of Representatives, and will be voted on, if there is no change in plans, this Friday. However, the plan is not convincing. Democrats need the support of some Republicans to pull it off, but Donald Trump's party appears to be missing the job.
