After Washington, Beijing also announces higher duties on 60 billion of American products and the tariff escalation sends the stock markets down. In Europe Milano closed down by 1,35% (20.593 points); Frankfurt -1,5%; Parigi -1,22%; Madrid -0,78%; London -0,5%.
It gets worse wall street, which accentuates the declines in the first hours of trading, while the Vix, the index of fear, jumps to 20,48 points (+27,7%). The yield curve on US government bonds is also inverted, in the search for safe havens for investors. There could have been no worse debut for Uber, which on its second trading day drops 9,7%. The Nasdaq it's pretty much all in the red, -3,2% at the moment. Losses are heavy for Boeing -4% Apple Lossless Audio CODEC (ALAC), -5,37% Caterpillar -5%, the latter considered the litmus test for the global industrial sector. And the tariffs are not enough: China is reportedly considering other measures including a reduction in Boeing orders, the sale of the Treasuries it has in its portfolio (and which makes it the main creditor of the United States), the stop on the purchase of agricultural products and energy Made in the USA, as the director of the GlobalTimes, newspaper in Chinese and English, and which is an expression of Beijing. Europe is also looking with concern at May 18, the deadline for the imposition of car taxes on EU cars in the USA.
In Piazza Affari, sales are felt in the auto sector (fca -1,88% Ferrari -1,8% Pirelli -2,06%), but they are massive especially on stm -5,1% Leonardo -4,68% Moncler -4,47% Recordati -3,7%; Buzzi -3,64%. The account is salty for financial and banks: Azimuth -3,55%; Ubi -3,36%; Bpm bank -3,71%; Unicredit -2,8%.
On the secondary side, risk aversion penalizes Italian government bonds: the 2,7-year yield rises to XNUMX% and the spread with the Bund it grows to 276.40 basis points (+1,95%).
Il Petroleum suffers from the war on duties, but appreciates in the wake of tensions in the Middle East: Brent $70,89 a barrel (+0,38%); Wti 61,77 dollars per barrel (+0,18%). Saudi Arabia says two of its tankers were victims of "sabotage" off the coast of the United Arab Emirates, calling the attack an attempt to undermine the security of world supplies of crude oil amid growing tensions between the US and Iran .
On the Milanese stock exchange, tensions on crude oil push purchases up Saipem + 1,45% Eni +1,28%. Well Italgas +1,05% and A2a + 1,09%.
surge ofgold, which gains almost a percentage point to over 1298 dollars an ounce. Euro-dollar in the 1,123 area.
