The current of selling on European stock markets does not stop after the start of Wall Street that awaits the minutes of the Fed in the evening. Wall Street opened negative with the Dow Jones losing 0.20% to 32,990.47 points, the Nasdaq down 0.61% to 12,483.00 points, while the S&P 500 dropped 0.42% to 4,127.04 points.
Fears about US debt have dragged down the lists, but also the new wave of Covid in China and British inflation above expectations. Milan remains the worst with the Ftse Mib losing 2.3% (Ftse Mib at 26,588 points) with Mediobanca (+2%), in the wake of the plan, and Prysmian (+1.4%) against the current on the list with Mps (-5.4%), Leonardo (-5.35%) and Pirelli (-5%) black jersey.
Among other markets, Frankfurt fell 1.84%, Paris 1.88% and London 1.89%. Europe's area index, the stoxx 600, leaves nearly 2 percentage points on the ground as tech, finance and consumer goods are under pressure. The spread is stable. The spread between BTP and Bund is in the area of 185 basis points with the yield on the Italian ten-year at 4.29%. On the commodity front, gas fell below 28 euros (27.74), again on October 2021 levels. On the other hand, oil rose with WTI rising by 2% over 74 dollars per barrel and Brent (+1.85%) exceeding 78 dollars. As for the exchange rates, the euro appreciates against the dollar with which it trades at 1.0784.
On the American default, Janet Yellen intervenes and reiterates: "The Treasury could run out of money to meet its financial obligations on June 1, the date on which the United States could slide into default. Speaking at a Wall Street Journal event, the Treasury secretary explains that it is difficult to pinpoint the exact day when resources will run out and pledges to update Congress on this soon. A debt ceiling deal is "possible," Yellen points out.