Italy's Stock Exchange Faces Steep Decline Amid Escalating Trade War

The Italian stock exchange witnessed a significant downturn on Friday, as the global trade conflict intensified. This came after China imposed a retaliatory 34% tariff on all U.S. imports, sparking fears across European markets about a potential global recession.

Market Reactions and Investor Concerns

By 2:16 pm CET, the FTSE MIB had nosedived by 6.78%, with Prysmian leading the losses after an 11% plunge at 2:19 pm CET. Meanwhile, the euro saw a slight gain of 0.10% against the dollar, trading at $1.10735 by 2:20 pm CET.