Global Market Square
The U.S. and European stock markets fell markedly Monday as the COVID-19 Delta variant case rise wreaks havoc on investor condfidence worldwide.
Europe’s Stoxx 600 lost 2.32%, its most significant one-day loss of 2021, the FTSE 100, fell 2.34%. Moving on to the U.S., The Dow Jones Industrial Average fell 2.09%, and the S&P 500 lost 1.59%. The tech-heavy Nasdaq fell 1.06%.
After several months of steady gains in most markets worldwide, the current trend in stocks reflects inflation fears that economic growth could get derailed. Additionally, investors contemplate that the economy could move from a V-shape recovery towards a twilight zone.
With the massive vaccine push as the only viable solution, we like French President Emmanuel Macron’s position on vaccines.
“I am addressing you on behalf of the whole of France. I no longer have any intention of sacrificing my life, my time, my freedom and the adolescence of my daughters, as well as their right to study properly, for those who refuse to be vaccinated. This time you stay at home, not us,” Macron said.
In France, those who do not get vaccinated will no longer be allowed to go to restaurants, cafes (starting in August), cinemas and museums (starting July 21), nor board planes or trains (starting in August). Alternatively, they will have to present a negative test, which will no longer be free (49 euro for a PCR test and 29 euro for an antigen, a total of 78 euro).
Macron announced that vaccination will be obligatory for medical personnel and those working in contact with frail people, with no exceptions.
From Sept. 15, a nurse who has refused to be vaccinated will no longer be able to go to work and receive a salary.
“We cannot make those who have the civic sense to get vaccinated bear the burden of inconvenience,” Macron said. “The restrictions will weigh on others, those who for incomprehensible reasons in the country of Louis Pasteur, science, and the Antivaxxers still hesitate to use the only weapon available against the pandemic, the vaccine. I am aware of what I am asking of you and I know that you are ready for this commitment. This is, in a sense, part of your sense of duty.”
Anyone who violates this decree faces a fine of $53,000 and one year in jail.
The rise in COVID-19 cases over the last 14 days:
Country Case Rise
- World 3.98%
- UK 11.98%
- Russia 7.08%
- Spain 6.95%
- India 1.95%
Although the U.S. saw a stable 1.19% more cases over the past 14 days, when examining it closer, we note that in New York, for example, the case rise during the same period was of 102.1%
Eurozone Summary for July 19:
- Stoxx 600 closed at 444.19, down 10.55 points, or 2.32%.
- FTSE 100 closed at 7,012.02, down 163.70 points, or 2.34%
- Dax Index closed at 15,133.20, down 407.11 points, or 2.62%.
Wall Street Summary for July 19:
- The Dow Jones Industrial Average closed at 33,962.04, down 725.81 points, or 2.09%.
- The Standard & Poor’s 500 closed at 4,258.49, down 68.67 points, or 1.59%.
- The Nasdaq Composite Index closed at 14,274.98, down 152.35 points, or 1.06%.
- The Birling Capital Puerto Rico Stock Index closed at 2,393.04, down 42.71 points, or 1.74%.