Volatility soars on the markets. After the collapses of Thursday and Friday, in what seemed to be a Black Monday for all intents and purposes, a few words were enough to restore hope to the markets. The one who said them was the White House economic advisor, Kevin Hassett, who in an interview with CNBC declared that the US president "is evaluating a 90-day moratorium on tariffs for all countries, except China". Unfortunately, a few minutes later the denial arrived. In the meantime, however, the stock markets had already reacted. . A blaze in the US, where Dow Jones, S&P 500 and Nasdaq - which had opened sharply lower - managed to gain almost 4%, only to then turn negative again, recording a red of around 2%. The European stock markets also reduced their losses, but then widened them again, having been struggling with a real sell-off since this morning.
Weighing on the stock markets are analyses relating to the impact of US tariffs on the global economy, while on the political level attempts to find a solution continue. “We are ready to negotiate with the United States. We have offered zero-for-zero tariffs for industrial goods, as we have successfully done with many other trading partners, because Europe is always ready for a good deal”, said the President of the European Commission, Ursula von der Leyen.
Meanwhile, conflicting messages are coming from the White House. While Hassett talks about a possible moratorium, Donald Trump uses muscular tones: “The United States has the opportunity to do something that should have been done decades ago. Don't be weak! Don't be stupid! Don't panic! Be strong, courageous and patient and greatness will be the result!”, wrote the US president on Truth. Instead, the one who could take cover could be Federal Reserve which has called an emergency closed-door meeting for 17.30:XNUMX pm today, Italian time. The agenda includes the interest rates.
In this context. Milan at the moment it is among the worst markets in Europe. Utilities and industry have been hit. Banks are in deep red, worried about the danger of recession. The trade war wanted by Trump and the consequent slowdown of the economy also risk having a double impact on credit institutions: if on the one hand the difficulties of companies will put pressure on the quality of the credit portfolio, any new rate cuts by central banks will negatively influence the trend of interest revenues. At the bottom of the list, however, is industry, with Interpump and Stellantis.
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Global uncertainty, fueled by Donald Trump tariffs, hit hard during the night also the Asian bags: Tokyo lost almost the7,8%, Hong Kong sank to -13,2%, Shanghai scored a -7,6%, Shenzhen has given in -10,5%, and Seoul saw a decline in 5,57%.
Salt it spread between BTP and Bund which touches the 125 points, with yields continuing to rise. At the commodity level, the Petroleum and gas continue to fall. The tariff effect also affects cryptocurrencies that have almost all accumulated earnings were wiped out since Trump's victory, with the Bitcoin who loses the 7% a dollars 77.000, and Ethereum slide to dollars 1.521, the lowest since October 2023.
