Piazza Affari started the session with a dramatic decline, after having seen catastrophic losses also in Asia, while Donald Trump there is no sign of wanting to back down over his trade policy, which even one of his big supporters has called “the economic nuclear winter”, while fears grow for a global recession. JPMorgan now sees a 60% chance of a U.S. recession and Fed rate cuts from June to next January, leaving the funds rate around 3%. Markets are even estimating a 50% chance that the Fed could ease policy as early as May.
The main index of Milan Stock Exchange, after having opened cautiously, after a while it is already at -6,50%. No stock shows a positive sign, while some stocks fail to open due to excessive decline.
Unicredit, Intesa Sanpaolo, Saipem, Azimut plunge by more than 10%. Eni also fell sharply to 12.15 euros with a -6.91%, Generali to 28.37 with a -6.77%, Enel to 6.93 with -6.60%, Poste Italiane to 14.655 with -6.42%. Sales fell on the FTSE Italia All-Share, the FTSE Italia Mid Cap (-4,87%); with a similar direction, the FTSE Italia Star (-3,77%) worsened sharply. Very negative session for all the FTSE MidCap stocks.
The strongest sales are seen on Webuild, which continues trading at -13,16%. Heavy MFE A, which marks a drop of -11,31 percentage points. Negative session for Lottomatica, which drops by 9,51%. Significant losses for Brembo, down by 9,02%.
Other European stock markets also in deep red
The same downward trend also for the main ones European stock exchanges: sales are booming on Frankfurt, which suffers a decrease of 8,38%, a poor performance for London, which recorded a decline of 5,57%, and a black session for Paris, which leaves a loss of 6,60% on the table.
Slightly rising seat for theEuro / US Dollar, which advances to 1,103. Slight decline Of their, which falls to 3.021,3 dollars an ounce. Sales prevail on the Petroleum (Light Sweet Crude Oil), which continues the day at 59,77 dollars per barrel, a sharp decline of 3,58%.
On the rise it is spread, which is positioned at +127 basis points, with a strong increase of 12 basis points, while the 10-year BTP reports a yield of 3,71%.
THEXNUMX-XNUMX business days will gather its trade ministers later today to decide what kind of retaliation to take. From Wednesday, the 27-nation bloc will face import tariffs of 25% on steel, aluminum and cars, and “reciprocal” tariffs of 20% on almost all other goods. In an interview with Financial Times Greek central bank governor Yannis Stournaras said this morning that US President Donald Trump's tariff measures could slow euro area economic growth by between 0,5 and 1 percentage point. ECB Governing Council member Piero Cipollone and Fed Governor Kugler will speak later today
