Bloomberg Daybreak: Europe Edition Worst Quarter In Years, Trump's 'Very Kind' Tariffs & Le Pen Blasts Ban
Apr 1, 2025
President Trump prepares to unveil reciprocal tariffs, raising concerns in the auto industry about potential harm. Marine Le Pen criticizes her five-year ban from running for office, impacting her future ambitions. UK food inflation hits a nine-month high, amplifying political pressure on the government. A crucial Supreme Court hearing could determine if UK lenders face massive compensation claims concerning motor finance. All this unfolds against the backdrop of market turbulence as investors grapple with uncertainty.
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Nasdaq's Worst Quarter
- The Nasdaq 100 experienced its worst quarter in nearly three years, dropping 8.3% in the first three months of 2025.
- Concerns about an AI bubble, tariff uncertainty, and recession fears drove investors away from tech.
S&P 500 Underperforms
- The S&P 500 also had a weak quarter, with its worst performance against global markets since 2009.
- European defense stocks helped European equities outperform, driven by increased defense spending.
Trump's Tariff Plan
- President Trump will announce a "reciprocal tariff" plan.
- These tariffs will be country-specific and potentially less stringent than other countries' tariffs.