Stock markets today, May 12. US inflation is alarming, EU listings are closed in red but contain the damage. Spread falls again

Milan A slower-than-expected slowdown in US inflation is prompting the Federal Reserve to raise new interest rates, perhaps more severe than expected. Now the European Central Bank is also out in the open, with President Lagarde making no secret of a possible intervention on the cost of funds next July. Central banks are moving to counter the price rush, and markets are noticing.

European stock markets closed lower but above their lowest levels in a session dominated by fears of monetary tightening and the announcement that Russian gas will no longer pass through Poland. But the rosters partially regained the losses in the final, helped by a recovery Wall Street That after the start in red moves against the closure of European SAMBI. It was the best squares Frankfurtwhich lost 0.69%, e Milan, down 0.67%. heavier Paris (-1.01%) and above all London (-1.63%). Poste Italiane’s quarterly report is recorded in Piazza Affari, which closes the first period of the year with revenue and profits increasing as the stock starts to weaken and then raises its head. Poor but less than the list so hump that the accounts gave. At the end of EU trading, the Dow Jones lost 0.9% while the S&P500 returned to parity and lowered the red Nasdaq to 0.3%.

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In Asia, MSCI’s broadest index of Asia Pacific shares outside Japan was down 1%. Tokyo In the end he lost 1.77%, Hong Kong 1.34%. jump Shanghaiup to +0.13% due to the decline in Covid cases and repeated assurances from authorities to support the economy after the prolonged shutdown that has paralyzed the region’s economy for weeks.

The US yield curve has been flattened: it indicates fears that the Fed’s moves could lead to an economic slowdown in the medium term. In the meantime, the capital outflows to the US as the returns become interesting involve some adjustments. In fact, there are interventions around the world to defend currencies: it happened Hong KongWhere the Monetary Authority tried to support its currency for the first time since 2019. This is happening in turkey The central bank, according to Financial Times reports, is asking commercial banks to limit customers’ purchases of foreign currency.

Among the commodities, the prices petroleum It’s falling due to uncertainty about growth: In New York, prices lost 1.20% to $104.51 a barrel. L ‘OPEC It lowered its estimates and now expects crude oil demand growth this year by 3.4 million barrels per day, 0.3 million barrels per day lower than the April forecast, due to “the potential decline in global GDP and the resumption of the Omicron variable in China.”

so sharp closing It is spread between 10-year BTPs and their German Bund counterparts. The spread closed the session at 186 points, compared to 191 points this evening, and more than 200 points opened the week. The interest rate on Italian bonds was 2.724%, a clear drop from the 3.2% reached almost at the start of the eighth month. Fears of an imminent recession that led many investors to reposition themselves on bonds at the expense of the stock market favored a return in prices.

The cryptocurrency sector is struggling for stability, as it is overwhelmed with hours of passion. The Bitcoin It fell to a 16-month low, erasing 2021 earnings and dropping below the $27,000 threshold. In the last eight sessions, calculate ReutersIt has eroded a third of its value after peaking at $69,000 last November. A number of factors raised the waters in the cryptocurrency world. First, high inflation and a tight Federal Reserve are punishing cryptocurrencies as well as tech stocks, given the growing relationship between Nasdaq and cryptocurrencies. The most exciting is the collapse TerraUSD Which burned 70% of its value within 24 hours. It is an arithmetic stable currency, which must remain at par with the dollar thanks to the system of equations and circulation that regulates the availability of the currency in order to keep the price in line with the dollar. An equilibrium, however, has broken with a roar, which the foundation behind the blockchain has not been able to restore and is already looking for 1.5 billion to try to prop up the situation. Disappointing quarterly report Queen Piece. The largest cryptocurrency exchange in the United States closed the first quarter below analyst expectations due to a decline in the number of users. The losses amounted to 429.7 million dollars and revenues 1.2 billion dollars. Even more alarming, however, is the communication with the company’s Sec that specifies that users of crypto assets have no protection in the event of bankruptcy. In itself, there is nothing new given that the lack of guarantees provided by the current regulations, but the mere ratification of them in writing sparked panic, indicating that the clarification was linked to a real risk of bankruptcy for the company. CEO Brian Armstrong had to be quick to explain: “There is no risk of bankruptcy but we have included a new risk factor based on Securities and Exchange Commission requirements.”

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