The Danish stock index C25 opens Wednesday morning with a drop of just over three percent after several days of significant fluctuations. On Tuesday it rose 2.4 percent. This is after a US tariff on goods from the EU of 20 percent came into effect on Wednesday morning Danish time.
On Wednesday around 9:30, the pharmaceutical company Novo Nordisk is in the lower part of the index with a drop of more than five percent. Zealand Pharma is also hit hard and falls almost five percent. At around 9:30, all shares in the C25 fall, except for Rockwool, which rises less than one percent. The C25 is composed of the 25 most traded shares on the Copenhagen Stock Exchange measured by turnover. The most valuable companies make up the largest part of the index.
On Wednesday night Danish time, US President Donald Trump also said that he will soon introduce a "large" tariff on products from the pharmaceutical industry. It was a week ago on Wednesday that Trump announced the new tariffs on goods imported into the United States.
Other tariffs apply to countries outside the EU. For example, 46 percent tariffs must be paid on Vietnamese goods in the United States and 32 percent on goods from Taiwan. China was initially hit with a tariff of 54 percent, but Trump has since said that it will be increased to 104 percent. This happened after China said that it would impose an additional tariff of 34 percent on American goods in response.
The extensive tariffs have raised concerns about global growth, just as companies risk being hit on earnings. This has made investors around the world pull out their feelers.
On Wednesday, stock markets in Asia closed with significant falls. For example, the Japanese Nikkei 225 index closed with a decrease of 3.9 percent. - writes AFP.
jel /ritzau/
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