Trump Tariffs Hit Luxury, Shipping & Energy Stocks

On this episode of Stock Movers:

- The Stoxx Europe 600 opened 1.8% lower with cyclical sectors leading declines. Miners, banks, industrials and consumers are falling 2.5% or more.

- There are concerns for Pandora’s manufacturing base of Thailand which Trump hit with a 36% tariff. Defensive sectors such as utilities, food and beverages, real estate, health care and personal care are in the green. 

- Container ships and car carriers are the vessels that’ll be hurt the most from the Trump administration’s wide-ranging tariffs on exporters to the US, Fearnley Securities AS analysts wrote in a note. A tariff of 54% on Chinese exports and substantial ones for other Asian exporters will impact flows to the US and is a “clear negative” for container volumes, Fredrik Dybwad and Nils Thommesen said

See omnystudio.com/listener for privacy information.