Stock exchanges: Dow Jones -1.66% with uncertainty over tariffs
Increased uncertainty pushed Wall Street into the red and encouraged buying in gold and precious metals
Le ultime da Radiocor
###Morning note: economia e finanza dai giornali
***Iran: da Usa nuovi attacchi e ripristino sanzioni dopo navi colpite a Hormuz
### Morning note: l'agenda di mercoledi' 8 luglio
(Il Sole 24 Ore Radiocor) - The European stocks held up for almost the entire session, but gave up suddenly at the end in the face of the "red" on Wall Street and thetariffs chaos that broke out in the US, after the Supreme Court's stop and Donald Trump's immediate relaunch with new tariffs at 15%. Indeed, tensions over the future of trade relations remain at high levels. The tycoon has also in the past few hours commented in harsh tones on the ruling of the top US judges who, in his opinion, would have "unwittingly given him more power and strength".
And in any case, Trump makes it clear to the world that he 'does not have to go back to Congress to get tariffs approved'. This is while the European Union awaits "clarification from Washington" and Iran warns of the risk of escalation in the event of a US attack (with consequent recovery in oil prices). But the markets, geopolitical tensions aside, anxiously await Nvidia's quarterly report (on 25 February), now the real test case for the resilience of the artificial intelligence investment race.
Milan (+0.5%) did better than almost all other listings in a session on the 0ttovolante. During the day, Piazza Affari also surged over 1%, pushing over the 47,000 point mark (intraday high at 47,103.98 points). Supporting the index was above all Enel (+6.8%), in evidence after the presentation of a strategic plan judged convincing by the market, with targets exceeding expectations. Madrid was also positive (+0.7%), while Paris ended around parity (-0.2%), although still close to the all-time highs reached on Friday. London (-0.1%) and Amsterdam (-0.1%) also suffered slight losses. Frankfurt was in the red (-1%), despite the improvement in the Ifo index on German business confidence.
Wall Street down on uncertainty over tariffs
Wall Street closed negative, after President Donald Trump announced an increase in global tariffs to 15%, following the US Supreme Court's decision last Friday to overturn the president's 'reciprocal' tariffs. The Dow Jones gave up 1.66% to 48,804.55 points, the Nasdaq dropped 1.13% to 22,627.27 points and the S&P 500 lost 1.04% to 6,837.81 points.
Meanwhile, Iran remains a focal point for investors as Trump delivers his State of the Union address to Congress tomorrow. The earnings of Nvidia Corp will be the focus of attention all week: as we said, the chip-making giant will release its results on Wednesday. The company will have to reassure investors and the entire tech industry that its strategy of investing in artificial intelligence will remain intact.
