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A pique the aircraft carrier: the Ibex sinks 14% to not cut rates the ECB

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The IBEX 35 has collapsed following the decision of the European Central Bank (ECB) to do not download types and a 14.06%, up to 6,390.90 points, in the worst session in its history. When the BrexitOn July 24, 2012, a 12.35%. Viscofan (-6%), Grifols (-9%) and MoreMobile (-9%) were the only values ​​that have dropped less than 10%. On, ACS Y Arcelor They have been the most bearish, with declines greater than 18%.

The ECB It has also announced 120 billion more QE and additional financing. All this in the midst of distress, in the world in general and in the markets in particular, due to the spread at a tremendous speed of the coronavirus.

Donald Trump has announced that it suspends all flights from Europe to the US to try to stop the outbreak. Italy has closed all shops, except pharmacies, parapharmacies and supermarkets. The World Health Organization (WHO) has already declared the outbreak "pandemic" and fear among citizens is increasing. In Madrid, the Community has asked the elderly and the people who care for them not to leave home as much as possible.

All in all, the bump of Wall street last session does not seem to have an end and at this time on Thursday it is collapsing 8% and liquidating the bull market since 2009. A very similar situation has been experienced in Asia and Australia has left 7%.

Link Securities analysts list this Thursday in their daily report the number of measures being taken to contain the virus – in the world of sports, the NBA has suspended the season after testing positive for a player and the Spanish football league has also been suspended-, and they recognize that "the reality is that significant losses will be caused to many companies and to the economy as a whole."

From Link they foresee that these losses are temporary, although, like most, they are unknown. "It is precisely this inability to assess the short-term macroeconomic scenario and its potential impact in the medium / long term what is causing panic among many investors, who are choosing, in the face of uncertainty, to drastically reduce their risk positions, "they comment.

IBEX 35 ANALYSIS

"The Ibex already falls in from the February highs a 35% and so far this week we have more than twenty%. What is said soon. As we warned in recent days, the perforation of the support (now the first resistance) of the 7,600 points left the gates a fall into the area of ​​the 6,700 points and underneath, although it is hard to believe, the 5,900-6,000 points. And it can be said that we are already at the gates of support we have at the 2012 lows"explains José María Rodríguez, analyst at Bolsamanía.

"With the current volatility it can be said that, unless Wall Street starts to regain positions strongly this afternoon, the normal thing is that tomorrow we continue to lose positions until 5,900-6,000 points. And let's cross our fingers so that it stops there, "adds this expert.

"To give us an idea of ​​where we are, look at the volatility index or fear index, the VIX, which this Thursday has touched 69.26 points. At the moment of greatest panic in history, in the 2008 financial crisis, this index marked a maximum at 79.43 points. This means that at the moment, we are facing the second highest level of panic and stress in the history of the stock markets, "concludes Rodríguez.

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