The European and American stock exchanges showed a big decline yesterday. The S&P500 dropped to 4,201.08 and lost 3.0%, the Dow Jones Index reached 32,817.38 points and decreased 2.4%. The Nasdaq lost as much as 3.6% and now stands at 12,830.96. European stock markets also closed lower, but to a lesser extent than in America. The Stoxx Europe 600 index fell 1.1% to 417.13 points, the German DAX declined 2.0% to 12,834.65. The French CAC 40 lost 1.3% and the British FTSE closed down just 0.4%. These stock market developments are related to the turmoil arising from the Russian-Ukrainian conflict. Carmignac even fears stagflation, which is a decline in the economy combined with high inflation.
Yesterday, in contrast to the stock markets, the price of oil rose sharply. Where a barrel of WTI closed with a settlement of USD 119.40, it briefly touched USD 130, which came from momentum for an import ban on Russian oil.
In Germany, retail sales in January went from a decline is December to an increase. The German statistics office Destatis reported that on a monthly basis, retail sales rose 2.0% in January, adjusted for inflation. On a year-on-year basis, the increase was even greater, where it was as much as a 10.3% increase from January last year. German factory orders rose faster than expected in January. Adjusted for seasonal effects, it rose by 1.8% on a monthly basis. This is a larger increase than expected by economists, who had counted on a 0.6% increase.
The 6M Euribor increased with 1 basis point to -0.48% compared to previous business day. The 10Y Swap increased with 1 basis point to 0.73% compared to previous business day.
In the attachment, today’s market data on money and capital market rates as well as other rates are presented.
Managed by Sluijmer Multimedia and hosted by True.