The Danish C25 index opens in the red on Monday after US President Donald Trump made his tariff threats against three countries serious. He has also repeated threats to impose tariffs on goods from the EU.
After an hour of trading, the C25 index is down 2.1 percent. Almost all shares in the index are down, but shortly before 10 a.m., tanker shipping company Torm just barely sneaks above zero. Vestas and Ørsted fall by a. two percent and 1.37 percent, respectively.
At the lower end of the index are Mærsk, down almost three percent, and DSV, down almost five percent. GN Store Nord is also hit, down around five percent, while Bavarian Nordic is at the bottom, down 5.6 percent. C25 is composed of the 25 most traded stocks on the Copenhagen Stock Exchange measured by turnover.
Falls in several places in the world
On Saturday, Donald Trump signed a presidential decree that introduces a 25 percent tariff on all goods from Mexico and Canada. However, energy products such as oil from Canada are exempt from the tariff. Instead, a 10 percent tariff applies. At the same time, a ten percent tariff is imposed on goods from China.
In addition, Trump has repeated his threat to introduce tariffs on goods from the EU. According to the president, a tariff will "certainly" be introduced on European goods, but he has not elaborated on when this will happen.
Leading stock indices in other European countries are also falling on Monday morning and afternoon. In Frankfurt and Paris, the leading stock indices opened with a decline of more than two percent. However, they have since recovered slightly, writes the AFP news agency. The German DAX index, which contains the 40 most traded stocks on the Frankfurt Stock Exchange, fell by 1.7 percent at around 09:30.
Stock markets in Asia were also in the red on Monday. In Tokyo, the Nikkei index fell 2.8 percent, while the Topix index was 2.5 percent lower, writes MarketWire. The market in China is closed due to the Chinese New Year.
/ritzau/
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