Le European stock markets close in a a day to forget, overwhelmed by an unprecedented wave of sales. Milan (-6,53%), the continent's black jersey, is unable to get back up after the hard blow inflicted by the US duties, With the China who responds with 34% rates on all American products, starting April 10. A move that further inflames the global trade war, fueling ever more fears of a global recession and pushes European markets into panic.
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A Business Square – where the Ftse Mib index falls below 36 thousand and reaches the point of cancelling out the gains of 2025 – a decline similar to that of September 11, 2001, the day of the attack on the Twin Towers, was recorded. Since then only ten worse sessions, between the post-Brexit period and the bankruptcy of Lehman Brothers. Also in sharp decline Frankfurt (-4,29%), Paris (-3,71%), Madrid (-5,64%), Amsterdam (-3,76%) And London (-4,86%). Also Wall Street is in sharp decline while the “fear index” flies. Oil prices plummetExpectations for an ECB rate cut in April now jump from zero to 100 percent.
A Milan a violent selling wave is unleashed which hits the banks: Ps (-12,2%), Bper Banca (-10,49%) And Mediobanca (-10,35%). Down too Popular of Sondrio (-9,66%), Mediolanum(-9,65%) And Unicredit (-9,58%). The worst of the Fste Mib are however Azimuth (-12,6%), Leonardo (-12,41%). Very bad too nexi (-11,47%).
A flurry of sales also for the insurance within Unipol (-10,53) in free fall. The sector of theauto within Iveco which does worse than Stellantis. Only one is saved Diasorin (+ 1,66%).
On the currency front, the dollar stabilizes on major foreign currencies. Theeuro drops to 1,0996 against the greenback.
