European Markets Decline Amid Trump’s Tariff Threats
Piazza Affari falls below 40,000 points as U.S. concerns impact global markets.
European stock markets experienced notable declines following new tariff threats issued by U.S. President Donald Trump.
After a brief period of positive trading, major indices reversed course, with many closing down over one percent.
The Italian stock exchange in Milan saw its index drop to 39,475.36 points, down 1.94%, dipping below the psychological threshold of 40,000 points after reaching a loss of 3% at one point during the trading session.
Wall Street indices also faced pressure, influenced by rising concerns regarding U.S. debt, which had previously driven up Treasury yields, combined with fears surrounding escalating trade tensions.
President Trump indicated on his social media platform, Truth Social, that he may impose tariffs up to 50% on European goods starting in June, asserting that negotiations with Brussels were yielding no results.
Among the potential targets for new tariffs, Apple was singled out, with the President suggesting a tariff of at least 25% on the company if it does not produce its iPhones in the United States.
Trading activity in Europe concentrated on declines in the automotive and technology sectors.
Major losses were observed in companies such as St, down 4.18%, and Stellantis, which fell 4.62%.
The luxury sector also faced downward pressure, with significant drops recorded for Brunello Cucinelli (-3.25%), Ferrari (-3.58%), and Moncler (-1.17%) in Milan, amidst ongoing concerns regarding consumption slowdowns in Asia.
Despite the overall bearish trend, Iveco managed to post a gain of 3.36%, amid ongoing discussions regarding the acquisition of its Defense division.
In foreign exchange markets, the U.S. dollar continued to weaken against the euro, which traded at 1.137, rising from 1.128 at the previous close.
The euro also exchanged at 161.84 yen, down from 162.48, while the dollar-yen rate settled at 142.76, compared to 144.02 earlier.
In commodities, gold prices saw an increase, with spot contracts rising by 1.9% to $3,357 per ounce.
Bitcoin’s value shifted slightly downward to $109,756, reflecting a decrease of 0.9%.
The energy sector observed an uptick in oil prices, with Brent crude trading at $64.90 per barrel, up by 1.4%, and West Texas Intermediate (WTI) at $61.70, an increase of 1.6%.
Natural gas remained relatively stable at €36.60 per megawatt hour on the TTF platform in Amsterdam, seeing a minor increase of 0.08%.
After a brief period of positive trading, major indices reversed course, with many closing down over one percent.
The Italian stock exchange in Milan saw its index drop to 39,475.36 points, down 1.94%, dipping below the psychological threshold of 40,000 points after reaching a loss of 3% at one point during the trading session.
Wall Street indices also faced pressure, influenced by rising concerns regarding U.S. debt, which had previously driven up Treasury yields, combined with fears surrounding escalating trade tensions.
President Trump indicated on his social media platform, Truth Social, that he may impose tariffs up to 50% on European goods starting in June, asserting that negotiations with Brussels were yielding no results.
Among the potential targets for new tariffs, Apple was singled out, with the President suggesting a tariff of at least 25% on the company if it does not produce its iPhones in the United States.
Trading activity in Europe concentrated on declines in the automotive and technology sectors.
Major losses were observed in companies such as St, down 4.18%, and Stellantis, which fell 4.62%.
The luxury sector also faced downward pressure, with significant drops recorded for Brunello Cucinelli (-3.25%), Ferrari (-3.58%), and Moncler (-1.17%) in Milan, amidst ongoing concerns regarding consumption slowdowns in Asia.
Despite the overall bearish trend, Iveco managed to post a gain of 3.36%, amid ongoing discussions regarding the acquisition of its Defense division.
In foreign exchange markets, the U.S. dollar continued to weaken against the euro, which traded at 1.137, rising from 1.128 at the previous close.
The euro also exchanged at 161.84 yen, down from 162.48, while the dollar-yen rate settled at 142.76, compared to 144.02 earlier.
In commodities, gold prices saw an increase, with spot contracts rising by 1.9% to $3,357 per ounce.
Bitcoin’s value shifted slightly downward to $109,756, reflecting a decrease of 0.9%.
The energy sector observed an uptick in oil prices, with Brent crude trading at $64.90 per barrel, up by 1.4%, and West Texas Intermediate (WTI) at $61.70, an increase of 1.6%.
Natural gas remained relatively stable at €36.60 per megawatt hour on the TTF platform in Amsterdam, seeing a minor increase of 0.08%.
Translation:
Translated by AI
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