Officials Warn That 80% of People in Madrid Will Get Coronavirus, IBEX35 Turns Negative

on Mar 20, 2020
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  • Spain has around 20,000 infected persons and 1,000 deaths so far
  • 8 out 10 people will get infected in Madrid, warns public official
  • IBEX35 erases all gains, trades negative on the day

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Spanish officials warned today that the majority of the country’s capital population will get infected with coronavirus after the death toll surpassed 1,000.

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Isabel Diaz Ayuso, the president of the region of Madrid, expects that eventually 8 out of 10 capital residents will get infected. Expectations are, according to Ayuso, that the majority of infected persons will have very mild symptoms but the virus can be lethal for the elderly or those with underlying health conditions.

Spain has become the second-highest European country when it comes to coronavirus-related deaths and infections. The number of confirmed infections in Spain rose to nearly 20,000 on Friday with 1,002 reported deaths so far.

Although IBEX35, Spain’s benchmark stock index, opened 4.3% higher this morning it currently trades 1% lower.

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