La duty war launched by the President of the United States, Donald Trump, has had a immediate impact on global financial markets, putting them under pressure. The president has in fact announced new 25% tariffs on imports coming from Mexico and Canada, and 10% from China, with the three countries ready to respond with their own countermeasures. Uncertainty over a possible escalation of the trade war has caused the financial markets opened the week in sharp decline.
Trump's axe is also hanging over Europe: the president has declared that he wants to soon impose new tariffs on European goods, with the Union already announcing a decisive response. So, while waiting for the situation to evolve, All European stock markets opened and continued the day in strong negative territory, frightened by the possible repercussions of this trade escalation. The higher sales are recorded in the automotive sector, heavily in the red. Stellantis, Pirelli and Iveco stocks are suffering the most.
READ MORE: Stocks Crash Under Trump's Tariff Bombs
In Asia, all stock markets closed in deep decline: Nikkei loses 2,6%, Hong Kong yields 0,4% e Seoul goes down of 2,54%, Sydney, -1,79%. The Chinese stock exchange is safe for now, closed for holidays, it will reopen on Wednesday.
Leading the downhill Among the stocks are Japanese and South Korean automakers, which have been hit hardest by the tariffs imposed by Trump that penalize their companies with production facilities in Mexico. Toyota e Nissan have lost more than 5%, while Honda has seen a drop of more than 7%. In addition, Kia motors recorded a 7% decline. South Korean electric vehicle battery companies, which had planned to open factories in Canada, suffered heavy losses.
Meanwhile, government bond yields are falling, with the Japanese 1,25-year at 1,64% and the Chinese one at XNUMX%.
Il oil price rises, with WTI rising by 1,8% to $73,85 a barrel, also thanks to the announcement of duties on crude oil from Canada and Mexico.
Instead, it loses value Bitcoin which falls below 95.000 dollars. TheEuro which touched 1,01 against the dollar, its lowest since November 2022.
Markets remain focused on upcoming macroeconomic data, including Eurozone and US manufacturing PMIs, with particular attention to the potential fallout from global trade tensions.
A Business Square, attention is focused on oil stocks and on Generali which is rising this morning, after the revelation of the weekend that UniCredit holds over 4% of Leone. Unicredit could become the deciding factor in the dispute between the management of Philippe Donnet, the main shareholder Mediobanca and its opponents, including Caltagirone and Delfin. Orcel he stated however that there is no strategic interest but "only a financial operation. The focus is on a large European banking group".
Still deep red for stm that, second Bloomberg News, is considering cutting up to 6% of its workforce, or up to 3.000 workers at its plants in France and Italy as part of a restructuring program.
Start of the week in growth for the spread between BTp and Bund which stands at 112 points.
READ MORE: Trump's tariffs, what (and how much) damage for Italy?
