Strengthening of quarantine in Europe accelerated the fall in oil prices and stock market indices in the United States
the decision by the European authorities to strengthen the quarantine restrictions against the background of rising TB cases in the U.S. continues to push down prices for oil and raw materials and stock indexes.
Germany is the main EU economy, plans to close all the bars, restaurants and public places until Dec. The French government plans to impose severe restrictions, up to the full lockdown. Spain and Italy have already tightened the quarantine. The Spanish government imposed a curfew from 23.00 to 6.00. Italy until November 24 closes gyms, public pools, theaters and cinemas. After 18,00 must be closed all catering establishments.
December futures on WTI fell by 5% to 37.5 $/barrel, Brent crude oil – by 4.5% to 39.1 $/barrel.
U.S. stock indexes continue to fall and at the end of the week can upgrade to at least March, as a result of the rapid spread of a pandemic, investors questioned the recovery of the global economy.
the Dow Jones Industrial Average falling for the fourth session in a row yesterday, fell by 3.4 percent to the lowest since June 11 level 26519,95 p. the S&P 500 drops three sessions in a row, fell 3.5%. Since September, when it reached a record value, the index lost 8% and annual growth is now reduced to 1.3%. The Nasdaq Composite fell 3.7 percent.
the Number of new cases in the United States exceeded 70 thousand people/day. According to the University D. Hopkins, on Tuesday 73200 sick people.
Investors withdraw funds from the U.S. economy and sell shares in the stock market to invest in the economies of Asia recover faster and better control the spread of coronavirus. In addition, investors worried about a possible uncertainty after November 3, because of the long calculation of results of elections of the President of the United States.
the price of wheat, corn and soybeans on the stock exchanges of the US and EU yesterday fell 2.2% and 4%, amid forecasts of decreasing demand.
