International financial markets are currently experiencing significant turmoil triggered by the United States' recent tariff measures. This development has led to a massive collapse in stock prices worldwide, affecting numerous sectors and regions.
The German stock index (DAX) recorded a decline of over 2.100 points to 18.489 points at the start of trading, corresponding to a loss of around ten percent. The Asian markets were already severely affected: In Tokyo, the Nikkei index closed down 7,83 percent at 31.136,58 points, after falling by nearly nine percent at one point in early trading. The Hang Seng Index in Hong Kong also plummeted by 13,22 percent, marking its largest daily loss since 1997.
Impact on the aviation and tourism industries
Shares of major airlines also came under pressure. Lufthansa shares fell six percent, while Airbus shares fell nine percent. Tour operator TUI suffered a seven percent decline. These developments reflect investor concerns about the potential impact of US trade policy on the international travel and tourism sector.
Along with the stock markets, commodity markets also came under pressure. The price of a barrel of North Sea Brent crude for delivery in June was just over $63, a decline of almost 14 percent within a week. This price decline is attributed to fears that the intensified trade conflicts could dampen global economic growth and thus oil demand.
Reactions from the European Union
In light of escalating trade tensions, the trade ministers of the EU member states met in Luxembourg to discuss possible countermeasures and strategies to persuade US President Donald Trump to relent. Trump had signaled a willingness to talk, but under certain conditions that his European partners viewed as problematic. His Commerce Secretary, Howard Lutnick, announced that the US government intends to continue its policy of high import tariffs on goods from almost all countries.
Analysts are drawing parallels to previous stock market crashes and warning of the potential long-term effects of current developments. Some experts fear that the current situation could lead to a global recession if a diplomatic solution is not found. Billionaire investor Bill Ackman has described the current situation as "economic nuclear war" and expressed serious concerns about the stability of the global economy.