TO Wall street (Dow Jones -3.43%; S&P 500 -3.52%; Nasdaq -3.73%) are choking on outbreaks of coronavirus. The main US stock markets have closed with very strong falls as the pandemic advances with a firm step and puts the country's economic recovery in check again. If you don't trim the falls is on track to close its worst session since June.
According to data collected by the Covid Tracking Project, the number of hospitalizations has increased by 5% in 36 states. From John Hopkins University they recall that last week there were highs of new positives with an average of 69,967 infections.
"Amid the uncertainty of US policy and the coronavirus, we can expect volatility in the stock markets for the rest of the year," say experts from UBS in his latest report. "However, we are optimistic in the medium term "they add.
"Once the vaccine is launched on a global scale, our central scenario is that the restrictions begin to be lifted by the second quarter of 2021 helping corporate profits to recover and return to pre-pandemic levels by the end of 2021", argues the Swiss analysis house.
The chaos in markets around the world will last for months, so the experts believe. "Uncertainty about COVID-19-related mobility restrictions and US policy means we should expect that volatility remains high for the rest of the yearMark Haefele, chief investment officer for global wealth management at UBS, explained in a note. "However, we continue to see a rise in the medium term."
On the business front, Microsoft it has fallen by about 5% despite its good results thanks to its business in the cloud. This Wednesday it was the turn of companies like Boeing, which has lost 3.453 million until September and anticipates new layoffs.
CEOs of big tech are making news again. Those responsible for Facebook, Twitter and Alphabet (Google) have appeared this Wednesday in the Senate of the United States to discuss section 230, part of a law that protects social platforms from legal liability.
On the other side of the Atlantic, the Ibex and the rest of Europe are falling sharply due to Covid. Finally, in Asia the stock markets have closed with a mixed sign in a session marked by investors' caution.
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