The Ibex falls sharply, with important cuts in IAG and Bankinter post-results

Wall Street also closed in the red this Wednesday, although with more moderate cuts than in the Old Continent, while Asia has clearly done poorly this morning after the warning from the International Monetary Fund (IMF).

Asia's economic contraction this year will be worse than previously thought, as several emerging markets in the region have decelerated sharply as they battled the coronavirus outbreak, the International Monetary Fund (IMF) said on Wednesday.

Asia is forecast to contract by 2.2% this year, the IMF said in its latest Regional Economic Outlook for Asia and the Pacific. That's worse than the Fund's June forecast of a 1.6% contraction, and in contrast to the IMF's decision to revise the projection for the world economy upward.

Regarding a US stimulus package, Republicans and Democrats still cannot reach an agreement. Republicans in the Senate want to advance a much smaller $ 500 billion relief bill, well below the $ 2.1 trillion bill that Democrats want, and also well below the bill. $ 1.9 trillion bill that President Donald Trump has said he would be happy to sign.

In this Thursday's calendar, weekly unemployment claims in the US and home sales also stand out on the other side of the Atlantic. Also, today there is debate between Donald Trump and Joe Biden.

Finally, on the vaccine against Covid, this Thursday the expert committee of the Food and Drug Administration (FDA) in the USA meets to assess the evolution of the vaccines against Covid in which they are working. The latest news is the death of a volunteer from the AstraZeneca trial in Brazil. It is not clear whether the volunteer received the vaccine or a placebo injection.