Trump’s Duties Unleash Panic on European Stock Exchanges
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Sharp Declines in European and Japanese Markets Due to Trade War Fears
Piazza Affari, along with all major European stock exchanges, fell sharply in the first session of the week, dragged down by fears of a trade war triggered by duties imposed by US President Donald Trump. After early trading, the Ftse Mib index lost 1.53%, falling to 35,912 points.
Significant losses for Stellantis, Pirelli and STM
Leading the losses was Stellantis, which saw its share price drop 6.47% after the reorganisation announcement. Pirelli and STM also recorded significant losses, down 5.43% and 3.92% respectively. The only stocks in positive territory were Enel (+0.15%) and Generali (+0.13%).
European and Japanese stock exchanges fell
Frankfurt’s Dax fell 2.03%, London’s Ftse 100 1.29%, Paris’ Cac 40 2.01% and Zurich’s Smi 1.47%. The Tokyo Stock Exchange also closed in deep red, with the Nikkei losing 2.69%.
Euro Weakness
The euro weakened, with the exchange rate falling overnight to $1.0141, its lowest level since November 2022, before recovering slightly to $1.0245 on Monday morning. The euro has been under pressure since Donald Trump’s election as US president in early November, when it was trading above $1.09.
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(Photo: © AndKronos)
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