Vienna's Stock Exchange Experiences a 8.8% Surge due to Lifting of US Tariffs
The major European stock markets experienced a surge on Thursday, as the US announced a 90-day pause on certain tariffs. The FTSE-100 in London rose by 5.51% to 8,102.81 units, while the DAX in Frankfurt increased by 7.5% to 21,144.09 points. The Euro-Stoxx-50, the leading index for the Eurozone, jumped by 7.49 percent in the first trading minutes, reaching 4,968.25 points.
The gains on the European stock markets are attributed to the US tariff pause, which was announced by President Trump. During the 90-day period, a flat tariff of 10% will apply, replacing the previously announced higher tariffs. A basic tariff of 10 percent remains in effect for almost all imports into the USA.
Marcel Mußler, a chart-based securities analyst, commented on the development, stating that the crash is averted for now, but it's no reason to declare the next bull market. Mußler also predicted that Trump will continue to use tough rhetoric, and trust in him remains shattered.
The US Dow Jones Industrial closed with an increase of almost 8% due to the tariff pause, and the Nasdaq-100 in the US increased by 12%. The local leading index ATX surged by 8.8 percent in the first trading minutes to 3,867.35 points. The Vienna Stock Exchange also started trading on Thursday with substantial gains.
However, the ongoing trade war with China poses difficult-to-calculate risks. Trump escalated the confrontation with China by further increasing the tariffs on Chinese imports, and the exact implications of the tariff pause are yet to be seen. The search results do not provide information about the name of the chart-based stock analyst who commented on the crisis following the US President's announcement of a 90-day delay on certain taxes.
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