Squawk Box Europe Express

The market sell-off continues. Following a brief rally, yields are up, the dollar weakens and the Dow loses a further 1,000 points as the trade war fuels concerns about a potential recession in the U.S. Inflation data Stateside comes in better than expected for March. It’s the first consecutive monthly decline since 2020. European Commission President Ursula Von Der Leyen warns of digital advertising levies in the event U.S. trade talks should fail with counter-measures potentially extending to service imports.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street enjoys a historic rally after President Trump announces a 90-day pause on reciprocal tariffs, not including China. Asian equities are also in the green with the Nikkei and Taiwan’s Taiex leading gains. European futures are also up as are Chinese equities, despite Trump increasing levies on the country to 125 per cent. In Germany, the CDU/CSU and the SPD unveil a coalition deal with Chancellor-in-waiting Friedrich Merz addressing President Trump directly to give assurances on defence and economic competitiveness. And in autos news, Volkswagen shares plummet as the car maker misses forecasts by a wide margin amid tariff uncertainty.  

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Trump’s tariffs kick in for the so-called ‘worst offenders’ with the minimum rate on certain Chinese goods hitting 104 per cent. Trump says the U.S. remains resolute. Asian equities are firmly in the red. European markets and Wall Street are both braced for more heavy sell-offs. U.S. Treasury yields also spike. The tariffs feud between Elon Musk and President Trump’s top trade advisor Peter Navarro intensifies following disagreement over Tesla’s auto assembly practices. Musk calls Navarro ‘dumber than a sack of bricks’. In Germany, the CDU/CSU and SPD are reportedly close to a coalition deal following 13 hours of negotiations.  

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Asian equities rebound after hitting an 18-month low while Wall Street futures are in the green following a volatile session on Monday. The Nikkei is up following the news that Tokyo is granted priority in U.S. trade talks with a negotiating team due to arrive in Washington D.C. later today. Beijing vows to ‘fight to the end’ against American ‘blackmail’ after President Trump threatens to double tariffs on China this week. Brussels prepares retaliatory measures against the U.S. but also believes that a ‘zero-to-zero’ tariff deal is possible. We hear from Banca Monte di Paschi di Siena CEO Luigi Lovaglio who says Europe is able to ride out the tariff turmoil.   

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Asian equities fall with the Nikkei hitting an 18-month low as China retaliates against President Trump’s sweeping tariffs policies. U.S. equity futures also indicate a heavy sell-off after $5tn in market cap was wiped off the S&P 500 in just two days. Europe is also set lower today as European Union trade ministers gather in Luxembourg to discuss an appropriate tariff response. And in media news, the Trump administration is forced to extend the TikTok deadline as Beijing abandons the deal at the last moment over the last week’s tariff controversy.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street suffers its worst session since 2020 with $2.5tn vanishing from market value following the announcement of President Trump’s sweeping global tariffs. Along with a heightened risk of a U.S. recession, top Wall Street names have voiced concerns over worsening global economic consequences should the tariffs be implemented without any exemptions. President Trump says he remains open to negotiations. We are live on the shores of Lake Como, Italy at The European House Ambrosetti Spring Forum where CEO Valerio De Molli tells CNBC that any retaliation to the U.S. tariffs would be counter-productive. And in oil news, Opec+ quickens the pace of scheduled hikes, surprising the market with a boost in production to push prices lower.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Trump hails his tariff blitz on Liberation Day. U.S. markets fall in extended trade as investors rush to safe havens, fearing the swathe of levies imposed by Washington could spark a global trade war. In Asia, the Nikkei slumps to an 8-month low and the tariff effects are felt across South-East Asian markets. China slams the move as ‘unilateral bullying’ and Canada pledges retaliation. The EU’s response is measured for now. EC President Ursula Von Der Leyen says the bloc is still committed to negotiation. We hear from TotalEnergie CEO Patrick Pouyanné and Leonardo CEO Roberto Cingolani who remain upbeat that the trade conflict could be beneficial to Europe.    

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Trump’s much-awaited Liberation Day arrives with nations braced for a wave of sweeping reciprocal trade tariffs to be announced with immediate effect at a Rose Garden event later today. The UK is still hopeful of achieving an 11th-hour tariff deal while Brussels pledges a ‘strong plan’ in retaliation. Tesla sales continue to fall following strong competition from rival Chinese manufacturers and political activism against CEO Elon Musk on the Continent. And in media news, venture capitalist Andreessen Horowitz are reportedly looking to invest in TikTok ahead of a deadline for Chinese owner ByteDance to sell up or face a ban in the U.S.  

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street suffers its worst quarter in almost 3 years as concerns over President Trump’s tariffs could fuel a U.S. recession. The country-based reciprocal tariffs will be unveiled tomorrow in a Rose Garden event. In France, Marine Le Pen has vowed to appeal a court ruling that she embezzled EU funds, banning her from public office for 5 years. And in tech news, OpenA.I. announces it has secured $40bn in what is the largest private tech funding round in history.  

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Asian markets ae in the red with the Nikkei 225 plunging to a more than six-month low as jitters are felt ahead of President Trump’s tariffs due on 2nd April. Trump hits out at Russian President Vladimir Putin for delaying a ceasefire deal with Ukraine and hints at secondary tariffs on buyers of Russian oil. In France, Marine Le Pen is in court on charges of embezzling money from the European Parliament, potentially banning her from office. And in Myanmar, rescue efforts continue following Friday’s earthquake which has claimed more than 1,700 lives.  

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.