PARIS (Reuters) – The main European scholarships drop at the start of the session on Monday, investors digesting Trump’s last comments on customs duties.
In Paris, the CAC 40 folded up from 6.54% to 6799.46 points around 8:15 a.m. GMT, the Dax in Frankfurt lost 7.38% and the FTSE in London 4.95%.
The pan -European FTSEUROFIRST 300 index lost 1.41%, the Eurostoxx 50 fell by 6.68%and the Stoxx 600 declines by 6.05%.
The consequences of the trade war initiated by Donald Trump continue to worry investors while so-called “basic” customs rights up to 10% on all imports in the United States came into force on Saturday and so-called “reciprocal” customs duties are due to come into force on Wednesday.
Barclays lowered its end -of -year forecast on Monday for the Stoxx 600 to 490 points against 580 scheduled for last month, and a fence at 493.33 Friday, citing the risks of recession linked to customs duties.
The American president also warned foreign governments on Sunday that they would have to pay “a lot of money” to remove the vast customs duties decided by Washington, describing these taxes as a “drug” and indicating that they are not concerned about the diving of the financial markets.
The banking sector drops by almost 8%, BNP Paribas, Crédit Agricole and Société Générale abandoning between 7%and 10%.
(Written by Bertrand de Meyer, edited by Augustin Turpin)
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