Stock exchanges today, nervous markets after the Ubs-Credit Suisse bailout

European stock markets under pressure again, despite the announcement of the rescue of Credit Suisse and despite the world’s main central banks taking the field overnight to ensure liquidity to the system. Investors are worried that after the Swiss bank, other institutions may be in trouble, finding themselves dealing with an imbalance between assets and deposits. Moreover, on the Zurich Stock Exchange, UBS opened almost 9% down, while Credit Suisse dropped by more than 60%. At first, Frankfurt lost 2%, Paris 1.85%, Amsterdam 1.5% and Madrid 2.4%. Milan, affected by the weight of banks, shows the worst performance, with the Ftse Mib down by 2.7%.

Leap in the Btp-Bund spread which exceeds 200 basis points, rising by 8 points to 203, while the yield on Italian ten-year bonds falls below 4%, reducing by 6 points to 3.98%. Concerns over the Credit Suisse bailout penalize Italian bonds, deemed riskier due to Rome’s high public debt, while risk flight is driving yields on most Eurozone government bonds into double-digits. with the Bund in the lead: it drops 13 basis points and is back below 2%, at 1.97%.

Sitting in the red for Asian stock exchanges. Tokyo lost 1.54%, Sydney 1.38 and Seoul 0.69%. Heavy Hong Kong, which drops 3.2%, while Shenzhen and Shanghai contain the declines to 0.4%. Futures on Europe and the United States were down, with that on the Euro Stoxx 50 dropping 1.1% and those on the Dow Jones and Nasdaq down by 0.8% and 0.4%. After an initial positive assessment of the bailout and the injection of liquidity by central banks, which had pushed futures on the Euro Stoxx up by 1.4%, caution prevails among investors due to the turbulence that is affecting the markets.