European stock exchanges have started this Monday session in the red: the Ibex 35 has fallen by 2.09%. Meanwhile, the Paris stock exchange has experienced declines of 2.01%, accompanied by a drop of 1.98% for Frankfurt; 1.74% for Milan, and 1.23% for the London stock exchange.
The general turmoil in the markets is a reaction to the announcement by Donald Trump last Friday of imposing a 25% tariff on imports from Mexico and Canada, and 10% on China. While waiting for the meeting today between the US President and his Mexican counterpart, Claudia Sheinbaum, and Canadian Prime Minister Justin Trudeau, companies worldwide are preparing for the adjustment of their value chains. Analysts already identify the automotive industry as one of the most affected.
Asia has not remained unaffected either: the main indices of Asian stock exchanges were trading lower this Monday: the Nikkei of the Tokyo Stock Exchange closed Monday's session with a 2.66% drop, while Taiwan's stock exchange benchmark lost 3.53%. On the other hand, the main index of the Hong Kong Stock Exchange was trading with a 0.18% drop. In China, its stock exchanges will open tomorrow after the New Year holidays.
In Spain, the Ibex 35 lost 259 points, 2.09%, and stood at 12,127.1 points, far from the highs reached last week when it broke the 12,300 points barrier.
This morning, most of the values opened negatively within the Spanish selective index, with ArcelorMittal registering the biggest drop, plummeting more than 9%, directly affected by the tariffs. Banks also recorded declines, with Banco Sabadell standing out with a 5.62% drop. However, BBVA followed closely, losing 3.94%, a predictable reaction for analysts given its exposure to Mexico. Santander opened with a 2.6% drop, Unicaja with 1.89%, and Bankinter with 0.97%.
The only rise within the Ibex 35 was noted by Redeia, which rose by 0.18% at the opening.
Thus, in the early stages of the day, the euro depreciated by 1.35% to trade at 1.0228 dollars, its lowest level since November 2022.