Stock markets in Europe and around the world are losing ground following reports that the United States and its European partners are considering imposing an embargo on Russian oil in a move that would increase pressure on the Putin regime. concerns its invasion of Ukraine, as well as the risks of stagnant inflation on a global scale.
On the board, the pan-European Stoxx 600 declines by 3.42%, with the other pan-European index, Eurostoxx 50, with the “heavy papers” of the eurozone, to lose 4.39%. The banking sector is pounding with losses of 5.4%, leading the losses, while the energy sector (oil and gas) is leading the profits, at + 3.5%.
The German DAX records a drop of 4.53%, with the French CAC 40 to record a drop of 4.56% and the British FTSE 100 to lose 2.11%.
In the periphery, the Italian FTSE MIB The Spaniard is also “crushed” by 5.87% IBEX 35 by 5.23%.
In the trading week that ended on Friday, the Stoxx 600 closed with a weekly drop of 7%, in its worst week since March 2020, at the height of the first wave of the coronavirus pandemic.
US Secretary of State Anthony Blinken told NBC on Sunday that Washington was in “very active discussions” with European governments about the possibility of imposing an embargo on Russian oil and gas imports.
Such a move would be a source of potential stagnation – a combination of high inflation and “frozen” growth, while high unemployment – on a global scale.
International oil prices have reached their highest levels since 2008, approaching or even exceeding $ 130 a barrel within the conference.
Russia has intensified its military pounding in neighboring Ukraine in recent days, with the main goal of blocking the capital Kiev in order to effectively lead to the downfall of President Zelensky and the Ukrainian government.
Ukrainian forces are strongly defending the entire length and breadth of the war fronts.
Despite the harsh Western economic sanctions against Russia, the West rejects the call of the President of Ukraine for the imposition of a no-fly zone over his country, as this could lead to a direct military confrontation between NATO and Russia and eventually a C ‘ World War.
The indices in the Asia-Pacific region recorded sharply declining trends, while the futures of Wall Street indicate losses in the afternoon (Greek time) and in the “flagship” of the world stock markets.
Source: Capital
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