From Sunday morning, the quarantine of Italy applies, covering the whole north of the country. In this area is located the city of Milan, where the only stock exchange house on the entire peninsula of Apennine.
If the coronavirus closes it and the cost of its emissions falls, it is quite possible that it will trigger a chain reaction across the market. Is it possible that BTC will work like gold, or will it continue its bearish trend?
The city of Milan closed by coronavirus with the stock exchange
Italy will quarantine the entire region of Lombardy, located in the north of the country. It is here that the city of Milan, which forms the imaginary heart of the Italian stock market, is also not to be found. The quarantine will also affect Venice and several other tourist centers.
The Italian government wants by decree to prevent the spread of coronavirus, which now rages in Italy. The World Health Organization has even identified the Apennine Peninsula as the worst affected area in the world. Anyone who attempts to cross the quarantine line risk a big fine.
Milan, the center of Italian trade, has 1.4 million inhabitants. All of Lombardy hosts 10 million people. This is about a quarter of the total population of Italy.
Future of cryptocurrencies and stocks
It is certain that when the exchanges open Monday morning, they will react. A sharp drop in European indices could sink both US and cryptocurrencies.
Within the quarantine are all clubs, sports, swimming pools. Bars and restaurants will be open.