The stock exchange quake triggered by the American President Donald Trump continues. Wall Street also opened the new trade week deep red. The Dow Jones Industrial Index as well as the broader S&P 500 opened around four percent lower, but then relaxed something. Before that, hopes had spread, the force of the sale, which now lasts three trading days, could weaken because the US Federal Reserve Fed might be reducing the key interest rate. At the beginning of the trade, the leading index Dax drops by ten percent. Afterwards the courses recovered something. In the afternoon there was still a minus of almost three percent on the spa board of the Frankfurt retail hall, the Dax was just under 20,000 points. With the opening of trade in the USA, the minus grew to five percent again. The situation was similar on other stock exchanges in Europe. Previously there was talk of a “black Monday” in Asia. The tip of the losers was initially Rheinmetall in early trade with a minus of around 18 percent. Rhine metal of all people. In the past few weeks, the armaments group has proven to be the course locomotive in the German leading index. Even after the losses of Monday – around three percent in the afternoon – the paper is still twice as much as at the beginning of the year. The fact that it hit Rheinmetall of all places still gives rise to worry. The change from a bull market (with rising courses) to a bear market (with falling courses) usually precedes a sale of the shares that have previously been particularly good. Bank shares were also under pressure: Commerzbank lost around nine, Deutsche Bank seven percent. The risk of an upcoming recession could significantly increase the credit cases. There are also prospects for falling interest rates that put the margins under pressure. The share of the export -oriented industrial group Siemens lost eight percent in the morning, later it was a little more than four percent. In contrast, the share price of the AutoKonzern BMW fell “only” by a little less than four percent before it recovered to a minus of 2.7 percent. A similar picture in Europan the other stock exchanges in Europe did not look better, for example in Paris: The KECANDEX CAC 40 dropped by almost seven percent. The course of France’s stock exchange locomotive LVMH continued its rapid descent and fell to the lowest level since November 2020. The market leader for luxury goods are hit by the new tariffs, since it implements every fourth euro in the United States, but produces the vast majority of its products in Europe. LVMH has now lost far more than 150 billion euros in stock market value within just one year. But the papers from other sectors such as the armaments industry were also on the sales list in Paris on Monday. The courses of Safran, Dassault Aviation, Airbus and Thales, all noted between six and ten percent in the minus on Monday morning, and the courses also broke in London, but then relaxed. The British leading index FTSE 100 lost more than five percent in the top, in the afternoon it was still four percent in the minus. The share of the Energy Group Shell lost six percent. The pharmaceutical company Astra-Zeneca, greatest value in the FTSE 100, was also one of the daily losers with more than five percent, although so far a temporary exception to the US tariffs should still apply. Armor and aviation companies such as Babcock, Melrose Industries and Rolls-Royce lost just as much in the market value. However, the losses were widely scattered across all industries. Economics revised their growth forecasts for the British economy because of the US tariffs and China’s reaction. Although Trump “only” demands one inch of ten percent on goods from Great Britain, half as much as from EU countries, this affects the island’s internationally networked economy. London’s government had hoped to be spared by Trump’s Zollhammer. Goldman Sachs reduced the growth forecast for Britain from 0.8 percent to 0.7 percent because of the customs load, which was higher than expected. Deutsche Bank has withdrawn its forecast by 0.3 points, 0.6 percent in this year. Italian stock market has lost Italian stock markets since Trump’s customs announcements than the other larger indices in Europe. On Monday, too, the losses of the main index FTSE-MIB in Milan were almost six percent until afternoon, after they had already left 6.5 percent on Friday and 3.6 percent on Thursday. The heavy losses are largely due to the fact that the economic -sensitive banks in the Italian index weigh very hard. Intesa Sanpaolo, Unicredit as well as MPS, Bper and Banco BPM were hit hard by the waves of sales. From the takeover fantasy due to the intentional consolidation efforts, which has been inspiring the courses in recent months, nothing has remained. Instead, it is noticeable that Italy is the largest USA exporter in the European Union after Germany. Börsen heavy weights such as the energy companies Enel and ENI are pursuing extensive business areas on the other side of the Atlantic. This also applies to Ferrari, the highest rated company in Italy at 72 billion euros, which has lost eight percent in value since Thursday. Even the armor supplier Leonardo, recently a stock market, is faced with course bricks. The industries close to the steel are particularly hard. The Tenaris company, which delivers steel pipes for the oil and gas industry and makes more than half of its turnover in the USA, has lost a quarter of its value since the end of March. The provider Saipem, who designs funding systems for the same industry, lost a fifth of his course in a week. The car manufacturer Stellantis, parent company of Opel, also ranks to this extent. He has already started to shut down factories in Canada and Mexico. Auto suppliers such as Pirelli and Brembo also cannot escape the sales pressure. The analysts of UniCredit no longer want to believe in the “Trump Trade”, who assumed some time ago that shares and the dollar would benefit from Trump’s company -friendly policy. Instead, the “eye-by-eye” tariff would increase the economic uncertainty and thus the volatility of the markets. “Black Monday” in Asiaan the stock exchanges in Asia, meanwhile there was already talk of a “black Monday”. On Monday, tech and consumption values were particularly busy on the stock exchange. The digital group Alibaba and the Xiaomi electronic giant lost around 15 percent, the internet company Tencent lost eleven percent. Suppliers of the Apple Group were also particularly affected. Japan’s electronics company Nintendo and Sony lost more than ten percent, including TSMC, the largest semiconductor in the world, lost ten percent in Taiwan, and there was also a club tent. The prices of soybeans and corn increased by up to three percent on the stock exchanges in China. China had also targeted agricultural companies in his reaction. In South Korea and Japan, the courses on Monday also went down by around five percent and six percent on the stock exchanges. JP Morgan boss Jamie Dimon, meanwhile, warns investors of the effects of the US tariffs and a global trade war. Turbulence could slow down the growth of the world’s largest economy, heat inflation and possibly lead to permanent negative consequences, wrote Dimon in his annual letter to the shareholders. Whether the new tariffs will trigger a recession is still open, but “growth will slow down,” wrote Dimon.
