Market Turmoil Hits Italy Hard

Italy's stock exchange faced steep declines on Friday, exacerbating losses as the global trade conflict intensified. China's retaliatory move, imposing a fresh 34% tariff on all U.S. imports, sent shockwaves through European markets, deepening investor anxieties over a potential global recession.

Significant Losses Recorded

By 2:16 pm CET, the FTSE MIB had nosedived by 6.78%, with Prysmian leading the downturn after an 11% plunge at 2:19 pm CET. This marked a significant moment in the ongoing trade war's impact on global markets.

Euro Gains Slightly Against Dollar

In a slight counter to the market's downward trend, the euro appreciated by 0.10% against the dollar at 2:20 pm CET, trading at $1.10735. This minor gain, however, did little to alleviate the broader market concerns.