(Finance) – First effects on bags world cup after the decision of the European Central Bank to raise i taxi and end the purchase program for government bonds. Generalized decline but Piazza Affari was the one that suffered the most: the index Ftse Eb it expanded the loss to 5% and thus burned almost 39 billion euros of capitalization in a single day. The data on US inflation also increased concerns: in May, prices rose by 8.6%, from the expected 8.3%, hitting their 40-year highs. Net declines, but less heavy, on the other stock exchanges: London -1.25%, Frankfurt -1.2%, Paris -1.5%.
The spread also grows. The yield differential between Italian BTPs and German Bunds is around 225 basis points. The ECB also announced that rates will rise by 25 basis points in July and that a new, feared, hike is expected in September. And other clouds are gathering on the Italian and European skies in general, both because the possibility of growth seems very fragile, and because the unknown factor of the war in Ukraine looms, with the rise in energy prices and the increase in inflation.
Wall Street also fell sharply with inflation flying to a 40-year high. The Dow Jones loses 2.36% to 31,513.25 points, the Nasdaq drops 3.07% to 11,396.27 points while the S&P 500 leaves 2.60% on the ground at 3,913.72 points.
The Bank of Italy has in the meantime estimated aconsumer inflation in the country to 6.2% on average this year, driven by the effects of the sharp rise in the price of goods energetic and bottlenecks tooffer. Inflation would then drop to 2.7% in 2023 and 2% in 2024. This is the new projection developed as part of the coordinated Eurosystem exercise. In January via Nazionale estimated an average inflation of 3.5% this year, 1.6% in 2023 and 1.7% in 2024.