On Monday, the 2nd of December 2019, a basket of European bourses had posted their steepest intra-day plunges in more than two months, while a majority of heavyweight indices such as Frankfurt’s DAX 30 alongside French CAC 40 were slumped more than 2 per cent, as a restoration of US metal tariffs on Brazil and Argentina had weighed on investors’ sentiments all over the globe.
In point of fact, Monday’s (December 2nd) headwind of a majority of European stock exchanges was almost entirely prodded by a tweet from US President Donald Trump sent to the officials of Brazil and Argentina saying that the United States would immediately reimpose a metal tariff on Latina America’s first- and fourth-largest economy, while Trump had accused two of the leading LATAM economies of devaluating their currencies, stoking a fresh trade concern amid jittering slowdown frets across the world.
Meanwhile, addressing to a growing nervousness circulating a Brexit, Sino-US trade tension alongside a restoration of US tariffs on Brazilian and Argentine metals, a senior investment director at Aberdeen Standard Investments, Will James, said on Monday’s (December 2nd) market wrap-up, “It’s a function of markets having done reasonably well in November post-settling-down of nerves around Brexit and also U.S.-China trade, coupled with first trading day of the month.
” Citing statistics, on Monday’s (December 2nd) European market closure, London’s FTSE 100 shed 0.82 per cent to 7,285.94, Frankfurt’s DAX dwindled 2.05 per cent to 12,964.68, while French CAC 40 index had witnessed a steep slide of 2.01 per cent to 5,786.74.
Elsewhere in the Europe, Madrid’s IBEX 35 shed 2.09 per cent to 9,156.30, while Italy’s FTSE MIB faltered 2.28 per cent to 22,728.59 on Monday’s (December 2nd) market round off.