The Danish stock index C25 closed Friday down 6.2 percent. This is the second-largest drop in the stock index's history. The decline comes in the wake of US President Donald Trump's announced tariffs on countries around the world.
The global trade war escalated on Friday when China chose to retaliate by imposing a tariff on American goods. Around noon Danish time, China announced that it would impose an additional 34 percent tariff on all American goods from April 10. On Friday, Sydbank and Danske Bank were hit hardest. The shares fell by 12 and 11.7 percent, respectively.
The C25 was formed in 2017 and is composed of the 25 most traded shares on the Copenhagen Stock Exchange measured by turnover.
The index experienced its biggest drop on March 12, 2020 - the day after Prime Minister Mette Frederiksen (S) closed Denmark in connection with the corona pandemic. Here, the C25 fell by a little more than eight percent.
jel /ritzau/
Text, graphics, images, sound, and other content on this website are protected under copyright law. DK Medier reserves all rights to the content, including the right to exploit the content for the purpose of text and data mining, cf. Section 11b of the Copyright Act and Article 4 of the DSM Directive.
Customers with IP agreements/major customer agreements may only share Danish Offshore Industry articles internally for the purpose of handling specific cases. Sharing in connection with specific cases refers to journaling, archiving, or similar uses.
Customers with a personal subscription/login may not share Danish Offshore Industry articles with individuals who do not themselves have a personal subscription to Danish Offshore Industry.
Any deviation from the above requires written consent from DK Medier.
