FX.co ★ Italian Stocks Fall to Over 2-Week Low

The FTSE MIB fell 1.9% to approximately 37,770 in early trading on Thursday, marking its lowest point in over two weeks. This downturn was driven by a fresh wave of aggressive U.S. tariffs, which heightened trade tensions and stoked fears of an economic slowdown. President Donald Trump has implemented a 10% baseline tariff on goods from all countries and raised duties on some of the United States' major trading partners, including a 20% levy on imports from the EU. Additionally, Trump's 25% tariffs on imported vehicles have been enacted. European Commission President Ursula von der Leyen stated that the EU is prepared to retaliate if negotiations with the U.S. do not succeed. Financial stocks were at the forefront of the market decline, with major players such as UniCredit (-4.4%) and Intesa Sanpaolo (-3.2%) among the most significant losers. Other notable companies experiencing declines include Tenaris (-3.1%), Unipol Gruppo (-2.8%), and Saipem (-2.6%).