PARIS (Reuters) – The main European scholarships are expected to decrease sharply on Monday at the opening after new remarks by Donald Trump going in the direction of a trade war whatever it costs.

According to the first indications available, the Parisian CAC 40 could lose 3.03% at the opening.

Under -term contracts report a 3.93% drop for Dax in Frankfurt, 2.3% for the FTSE in London and 3.42% for the Stoxx 600.

Donald Trump once again said his desire to wage a hard war until his ends to achieve his ends.

The American president warned foreign governments that they would have to pay “a lot of money” to remove the vast customs duties decided by Washington, describing these taxes as a “medication” and indicating that they are not concerned about the diving of the financial markets.

If more than 50 countries have contacted the White House to start commercial discussions, some have chosen the Riposte path, like China, and others are preparing for it, like the European Union.

“The reset of the World Order by Trump 2.0 leads to chaos. Customs rights are synonymous with recession and political uncertainty will not disappear,” warned Barclays economists in a note published on Monday, adding that “reciprocal customs tariffs and reprisals are recessionists”.

The consequences could be particularly negative for Europe and grew the resumption of economic growth, estimated the majority of economists, while the new so-called ‘basic’ customs ‘duties at 10% on all imports in the United States imposed by Trump entered into force on Saturday and the so-called’ reciprocal ‘duties’ duties must come into force on Wednesday.

“In the coming weeks, the lifting of uncertainty about the implementation of customs prices should not allow the equity markets to resume the way to the rise insofar as the slowdown in the economy now becomes certainty and will inevitably lead to a downward revision of business results”, warned Gilles Guibout, responsible for European actions at Axa IM, in a note published on Friday.

In Asia

The Tokyo Stock Exchange evolves in sharp decline (-6.67%), sealed by the financial sector which undergoes fears of recession led by the trade war.

The fears concerning the consequences of American customs duties and the Chinese response also weigh on the markets in China and Hong Kong.

The Hong Kong Hang Seng index declines by 10.83%, the SSE Composite of Shanghai fell by 6.34%, the CSI 300 decreases by 6.31%.

A Wall Street

The New York Stock Exchange unscrewed on Friday for the second consecutive day in reaction to the trade war launched by Donald Trump and the response announced by China.

The Dow Jones index sold 2,231.07 points, or 5.50%, to 38,314,86 points.

The wider S & P-500 lost 322.44 points, or 5.97%, to finish at 5,074.08 points, its lowest level in eleven months.

The Nasdaq Composite fell from 962.82 points or 5.82% to 15,587.79 points, displaying a drop of more than 20% compared to its last closing peak at 20,173.89 points on December 16, which brings it technically into downstream territory (“Bear Market”).

Chinese companies listed in the United States such as JD.com, Alibaba and Baidu dropped by more than 7.7% while companies that are highly dependent on China also suffered like Apple, which lost 7.3%.

The values ​​to follow: [L5N3QI1L4]

RATE

The leak to the shelters affects American yields while the market is now leaning mainly for a drop in rates of the American Federal Reserve (Fed) from May.

The ten -year -old Treasury yield declines from 5.7 bp to 3.9343%, while the two -year title yield abandons 14.6 pb to 3.5241%.

Changes

The trade war initiated by the American president and its consequences weigh on the US and Australian dollar while the euro is appreciated.

The dollar decreases 0.38% against a basket of reference currencies, the euro rises from 0.25% to 1.0982 dollars, and the pound sterling firms 0.06% to 1.2898 dollars.

In Asia, the yen fell 0.65% to 145.95 yen for a dollar, the Australian dollar yields 0.38% to 0.6018 dollars.

OIL

Barrel prices are decreasing on Monday, extending their losses last week, while climbing trade tensions between the United States and China feeds fears of a recession that would strike the demand for oil.

Brent fell 2.64% to $ 63.85 a barrel, the American light crude (West Texas Intermediate, WTI) weakens 2.68% to 60.33 dollars.

Main economic indicators at the April 7 agenda:

Pays GMT indicator previous consensus period

From 07:00 FEV industrial production. -1% +2%

07:00 FRIENDS BALANCE FEV. / € 16 mLDS

EZ 09:30 am index felt Apr. -9.5 -2.9

10:00 am retail sales Feb. +0.4% -0.3%

– over one year +1.9% +1.5%

(Written by Bertrand de Meyer, edited by Augustin Turpin)

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