Wall Street opened sharply lower Friday following new tariffs imposed by Donald Trump and disappointing US employment figures. The Dow Jones tumbled 1.19% to 43,607.62 points, the Nasdaq dropped 1.34% to 20,838.57 points, and the S&P 500 fell 1.08% to 6,270.78 points.
European stock markets extended losses after Wall Street’s weak opening, pressured further by the below-expectations US July jobs report. Milan’s FTSE MIB plunged 2.67%, led by a banking sector collapse: Bper fell 4%, while Popolare Sondrio and Unicredit both lost 3.6%. Paris shed 2.61%, Frankfurt dropped 2.27%, Madrid declined 1.6%, and London held losses to 0.7%.
European bourses remained firmly in the red as new tariffs took effect, primarily impacting economies like Switzerland and Canada that lack trade deals with the US. Mid-session, Milan’s Piazza Affari hit new lows, with losses nearing 2% amid heavy selling across the board. Paris was down 2.2%, Frankfurt off 1.8%, and London down 0.6%. Meanwhile, Nasdaq futures in New York dropped 1.4% and S&P 500 futures fell 1.2%.
Regarding the EU, the new 15% tariff will be implemented starting August 8th. However, reports indicate Trump’s executive order does not yet enact other agreed elements, specifically the commitment to reduce tariffs on autos and auto parts to 15%, nor does it include the specific treatment negotiated for strategic products like aircraft.
Riproduzione riservata © Copyright ANSA