World stock markets fell this Monday, especially in Europe, in a session marked by growing concern due to the Delta variant of the coronavirus and the rebound in cases in the Old Continent, which also hits oil.
The New York Stock Exchange opened lower, fearing the impact that the spread of the Delta variant may have on the economy and inflation: the Dow Jones star index lost 1.37%, while the Nasdaq was down 1.27% at the opening.
The London Stock Exchange fell 2.32%, despite the fact that this Monday saw the end of sanitary restrictions in the United Kingdom.
The Cac 40 in Paris and also the Frankfurt Stock Exchange yielded more than 3%, while that of Milan fell to 3.15%.
The Dpw Jones lost more than 2 points, the same as the European stocks. AP Photo
Asian markets too They closed their session on Monday with losses due to high inflation in the United States and the spread of the Delta variant of the coronavirus.
“Fears for Future (Economic) Growth Given the Advancement of the Delta Variant are certainly cause for concern “, acknowledged Sebastian Paris Horvitz, analyst at LBPAM.
Oil also suffered from the impact of the virus’s progression, with a 5% drop, due to the cases of covid and also due to the increase in the supply of crude oil from OPEC.
The European benchmark, Brent, for September delivery lost 4.92% to $ 69.97 a barrel in London, while the US WTI for August delivery it fell almost 8% in New York.
The world’s major oil producers decided on Sunday to continue slight production increases from August, after the United Arab Emirates block another deal in early July.
The OPEC ++ meeting (the 13 OPEC countries plus 10 others led by Russia), decided on Sunday an increase of 400,000 barrels per day (bpd) per month from August to help global economic recovery from the coronavirus pandemic, the Vienna-based group said in a press release.
Black gold was on its way to the biggest recent drop this Monday, having reached not long ago the 77 dollars per barrel, its highest price in more than six years.
Increase in cases
Global COVID Cases increased by 11.5% last week, with double-digit increases in almost all regions, and the world is in a “very dangerous” moment of the pandemic, warned today the head of the anticovid technical unit of the World Health Organization (WHO), María Van Kerkhove .
“After 18 months, it is a very worrying situation”The American expert stressed in a meeting on social networks, who pointed out that the deaths in the last seven days also rose, although in a more moderate way (1%).
In Europe, cases from July 12 to 18 increased by 20% compared to the previous weekWhile in South Asia the growth was 30%, in East Asia it was almost 30% and in the Middle East infections rose by 15%, explained Van Kerkhove.
The factors that explain this increase, he stressed, are the expansion of more contagious variants, like the delta, increased movements of people and socialization, and a “misuse of public health measures,” he warned.
Source: AFP and EFE