FX.co ★ Italian Stocks Slip Near 2-Week Low

In early Thursday trading, the FTSE MIB fell to approximately 38,732, marking its lowest point in almost two weeks. This downturn mirrored similar declines among regional markets, as the automotive sector weighed heavily on the index. This drop followed President Trump's reaffirmation of his commitment to imposing a 25% tariff on all imported cars, light trucks, and select auto parts effective April 2. Additionally, he warned of significantly escalating tariffs on the European Union and Canada should they counter his trade measures. In the automotive sector, Ferrari shares fell by over 2%, while Stellantis experienced nearly a 5% decline. The financial sector, another vital component of the index, also faced setbacks, with UniCredit declining 1.4%, FinecoBank 1.3%, Unipol Gruppo 1.7%, Bper Banca 1.3%, and Mediobanca 0.9%.