October 7, 2022

Stock market ends at year low after falling 2.46%

Madrid (EFE).- The Spanish stock market fell 2.46% this Friday, registering its lowest level of the year, ending below 7,600 points, impacted by the decline in Wall Street and the deterioration in activity in Europe, according to market data.

The main market indicator, the IBEX 35, has lost 191.2 points, or 2.46%, the biggest drop since June last year, to 7,583.5 points (new year record and level from last November). In the second worst week of the year it returns 5.02% and in this exercise it accumulates a drop of 12.97%.

The Spanish stock prices reached the end of the day today and recorded the lowest level of the year.
The Spanish stock market fell 2.46% this Friday, registering its lowest level of the year, ending below 7,600 points, impacted by the decline in Wall Street and the deterioration in activity in Europe, according to market data. EFE/Vega Alonso

In Europe, with the euro at $0.9725 (20 years ago level) and down 1.15%, Milan is down 3.36% (there are elections on Sunday in Italy), Paris 2.28%, Frankfurt 1.98% and London 1.97%.

The Spanish stock market started the day with small losses, about 0.25%, after Wall Street fell yesterday Thursday: the Dow Jones Industrial Index 0.35%, the S&P 500 0.84% ​​and the Nasdaq Composite 1.37 %.

Asian cities also fell: Shanghai 0.66%, Seoul 1.81% and Hong Kong 1.18%.

US index futures fell 0.4%.

Spain’s second-quarter GDP had been revised upwards, growing by five tenths more than initially estimated, to 6.8% year on year.

The stock market increased its losses, being near the lows of last March and about to lose 7,700 points.

Web Edition: Marina Gonzalez

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