Spanish IBEX 35 Is Plunging After The Catalan Decision To Declare Independence
The Spanish IBEX 35 is right now down more than 2%. Here is the daily chart:
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Comment: There could be some support at 10000, but the official declaration will not happen until Monday so the market will most likely be very nervous until then. This could be the beginning of a larger pullback for stocks since the first 3 weeks of October are the worst of the year historically.
The two stocks that are dropping more are CaixaBank and Sabadell, the two most important banks in Catalonia. Other stocks that are losing a lot of value are:
Banks: BBVA, Bankia, Santander, Bankinter
Real State: Colonial, Merlin
Engineering contractor: Técnicas Reunidas
Airports: AENA
Petroleum: Repsol
thanks, looks like the banks are tanking the most. So, what is your take on the Referendum?
Is it just me or does this remind you of BCH hard fork?
Anyways Catalonia is the better part of Spain. They'll end up stronger. Markets are plunging because of uncertainty. It'll take a while and then recover (for Catalonia at least).