LAST UPDATE: 15.30
Losses, much less heavy than in the first hours of the session, are recorded by the stock indices in Europe, but also around the world, after the information that the USA and its European partners are considering imposing an embargo on Russian oil, in a a move that would increase both the pressure on the Putin regime over its invasion of Ukraine and the risks of stagnant inflation worldwide.
On the board, the pan-European Stoxx 600 declines by 0.66%, with the other pan-European index, Eurostoxx 50, with the “heavy papers” of the eurozone, to lose 0.24%. The banking sector and the automotive industry suffer losses of 5%, leading the losses, while the energy sector (oil and gas) leads the profits, at + 3.8%.
The German DAX records a drop of 0.88%, with the French CAC 40 to record a drop of 0.70% and the British FTSE 100 to lose 0.30%.
In the periphery, the Italian FTSE MIB the Spanish also falls by 0.12% IBEX 35 by 0.49%.
In the trading week that ended on Friday, the Stoxx 600 closed with a weekly drop of 7%, in its worst week since March 2020, at the height of the first wave of the coronavirus pandemic.
US Secretary of State Anthony Blinken told NBC on Sunday that Washington was in “very active discussions” with European governments about the possibility of imposing an embargo on Russian oil and gas imports.
Such a move would be a source of potential stagnation – a combination of high inflation and “frozen” growth, while high unemployment – on a global scale.
International oil prices have reached their highest levels since 2008, approaching or even exceeding $ 130 a barrel within the conference.
Russia has intensified its military pounding in neighboring Ukraine in recent days, with the main goal of blocking the capital Kiev in order to effectively lead to the downfall of President Zelensky and the Ukrainian government.
Ukrainian forces are strongly defending the entire length and breadth of the war fronts.
Despite the harsh Western economic sanctions against Russia, the West rejects the call of the President of Ukraine for the imposition of a no-fly zone over his country, as this could lead to a direct military confrontation between NATO and Russia and eventually a C ‘ World War.
The indices in the Asia-Pacific region also recorded sharply declining trends.
The Japanese Nikkei recorded losses of 2.94%, to 25,221.41 points, with the South Korean KOSPI to “close” with a drop of 2.29%. In Hong Kong, the Hang Seng led the losses in Asia with 3.87%, while in mainland China, the Shanghai lost 2.17% and o Shenzen 3.43%. In Taiwan, the Taiwan Weighted “lost” 3.15%, while in Australia, the S & P / ASX 200 closed with losses of 1.02%.
Wall Street futures indicate strong losses in the afternoon (Greek time) and in the “flagship” of the global stock markets.
Source: Capital
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
