This Friday, the Ibex 35 fell 3.68% to 8390 points., which represents the second largest drop of the year (March 4, the fall was 3.72%). High inflation in both Spain and the US led to a sharp drop in the Spanish selection.

This Friday the US inflation data for May was known, which amounted to 8.6%., which is three tenths higher than in April and the highest in forty years. In addition, the decision of the European Central Bank on Thursday to raise rates by 0.25% in July is still weighing on the elect, especially banks.

Actually, BBVAwhich fell 9.13%, fell the most this Friday, followed by Caixabank and Banco Santanderwith a fall of 7.13% and 7.09% respectively. Bankinter and Banco Sabadell They complete the bottom of the table with a drop of over 6.5%.

Ibex varieties also dropped significantly, with Inditex retaining 4%; Iberdrol 2.64%; Telefónica – 1.65%, and Repsol – 2%. None of the values ​​closed in positive territory, although Aena slightly lost 0.14%.

This Friday’s drop means that the Spanish stock index has entered negative territory this year with a cumulative fall of 3.71%. In a weekly cumulative Ibex leaves 3.8%, making it the worst week since November 2021.

As for European stock markets, the markets of Milan fell the most from 4.48%, Paris from 2.21%, Frankfurt from 2.13% and London from 1.89%. The Euro Stoxx 50, an index that includes the largest capitalized companies in Europe, also stands at 2.52%.

Although US inflation slowed slightly in April, declining for the first time in seven months, in May it jumped again to its highest level since 1981. The rise in prices in May was driven primarily by higher energy prices, but also, to a lesser extent, by rising housing and food prices.

This led to Wall Street opens negative this Friday and the Dow Jones Industrial Average lost 1.81% in the first bars of the session.

In Spain, the INE confirmed the rise in the consumer price index to 8.7% in May, and the Bank of Spain released economic forecasts today. The agency estimates that the gross domestic product (GDP) of our country will be 4.1% at the end of 2022.

In the debt market Spanish 10-year bond rate rises to 2.695%while the risk premium is 123.70 basis points after rising 5.10%.

In the Brent oil market, The benchmark in Europe fell 0.91% to $122.01 a barrel, while the West Texas Intermediate (WTI) benchmark in the US also fell 0.82% to $120.60 a barrel.

the euro is losing value compared to the “green ticket” and changes to 1053 dollars.