The Milan stock market collapsed on US
President Donald Trump's tariffs Friday with the FTSE-Mib index
falling 6.53% to 34,649 points.
Earlier the index had been 7.5% down, a loss comparable to that
on September 11 2001, after the attack on the World Trade Center
in New York.
The index lost 12.48% after Britain voted to leave the European
Union on June 24, 2016, and 8.24% on October 6, 2008, after
Lehman Brothers went to the wall.
The Milan bourse had already lost 3.6% of its value on Thursday
after Trump on Wednesday announced the tariffs, including a 20%
hike on the duties on EU imports.
Among the worst performers Friday were Azimut (-12.6%), Leonardo
(-12.4%) and MPS (-12.12%). Only Diasorin (+1.66%) was saved
from panic selling.
London plunged 4.95%, Frankfurt the same, and Paris 4.26% amid
trade war-triggered recession fears, with bank stocks the worst
hit.
In New York the Dow Jones was down 4.06%, the Nasdaq 5.79% down
and the S&P 500 5.1% off.
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