/arc-anglerfish-arc2-prod-infobae.s3.amazonaws.com/public/Y474TH7IKREABCL7GOHGI6X2JE.jpg?fit=%2C&ssl=1 "Strong rebound in shares on Wall Street after a black week marked by fear of the coronavirus")
United States stock indices rose strongly this Monday, in a marked rebound after registering one of the worst weeks since 2008 due to fears about the economic impacts of coronaviruses worldwide and waiting for a package of fiscal stimuli to counteract them.
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The Dow Jones closed the day with a rise of 5.1% – reached 26,703.32 points – as operators They assumed a reduction in interest rates after data showed the biggest contraction in manufacturing activity in China in February. According to CNBC, it was the largest nominal gain in its history.
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In parallel, the Referential S&P 500 grew by 4.60% and the technological Nasdaq did it by 4.49%, to 8,952.16 units.
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Wall Street on Friday marked its biggest weekly decline since the 2008 financial crisis, sinking amid fears of a recession following the epidemic.
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Investors now expect that the United States Federal Reserve cuts its rates by 50 basis points when central bank officials meet on March 17 and 18.
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The president of the United States, Donald Trump, made an express request on this line on Monday with a criticism of the agency’s director, Jay Powell. “As usual, Jay Powell and the Federal Reserve are slow to act. Germany and others are injecting money into their economies. Other Central Banks are much more aggressive. The United States should have, for all the right reasons, the lowest rate. We don’t have it, which puts us at a competitive disadvantage. We should be leading, not following! “, He said.
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“The markets are trying to get the idea of where we are in the coronavirus correction,” said Robert Pavlik, chief investment strategist and senior portfolio manager at SlateStone Wealth LLC in New York.
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The actions of the main banks fell as an increase in bets on a rate cut caused a fall in bond yields. JPMorgan Chase & Co and Wells Fargo & Co lost between 0.3% and 0.6%.
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Disparate results in Europe
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The main European stock exchanges they closed in as much this Monday with different performances, since the markets, although affected by the coronavirus epidemic, welcomed the news that central banks could take financial support measures.
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Paris saw the CAC 40 index increase by 0.44% to 5,333.52 points.
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For its part, the FTSE 100 in London gained 1.1%, to 6,654.89 units.
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In Frankfurt, the star index, the DAX 30, on the other hand, fell 0.3% to 11,857.87 points.
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The FTSE Mib of Milan also lost, in its case 1.5%, to 21,655.09 points.
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Finally, the IBEX 35 in Madrid increased 0.21%, to 8,741.50 points.
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