Markets again in the red after Powell’s words that approach the possibility of a monetary tightening by the Fed

Markets again in the red after Powell’s words that approach the possibility of a monetary tightening by the Fed
Markets again in the red after Powell’s words that approach the possibility of a monetary tightening by the Fed

The European lists all closed in the red with London down by 0.7%, Frankfurt by 1.2%, Paris by 0.8%. Milan closed the session with a minus 0.9%. Fears of a slowdown in the economy, and therefore also in energy consumption, also penalized oil, which fell by 4% in London and 6% in New York.

Another complicated day for international markets struggling with uncertainties related to the consequences of the Omicron variant and with the perspective of a monetary tightening by the Federal Reserve, the US central bank, which is done more concrete. The European lists closed all in red with London down by 0.7%, Frankfurt by 1.2%, Paris by 0.8%. Milan closed the session with a minus 0.9%. Tenaris (- 2.9%), Stellantis (- 2,7%) and Telecom (- 2.3%) the worst stocks. Bucking Unicredit, Terna and Diasorin. The lists have turned down after the statements of the Fed chairman Jerome Powell who stated: “The debate on one is appropriate fine del tapering (the reduction of the purchase of securities on the market, ed) faster”.

Powell’s stance comes in light of the fact that “it appears that the factors driving up inflation are will continue into the next year “. Powell added that “it’s a good time for the Fed to withdraw the transitional word as regards inflation “and that” in general “inflation is linked to Covid but is now expanding”. In the morning the preliminary estimate on theeuro area inflation rose to 4.9% the highest level since the single currency has existed. The words of the governor of the Fed also pushed the US prices down. In New York l’S&P500 scende dell’1,5% while the Nasdaq by 1.7%. Fears of a slowdown in the economy, and therefore also in energy consumption, also penalize the oil down by 4% in London and by 6% a New York.

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