Tariffs take centre stage, again

Stock markets turned jittery after the latest tariff announcement from the White House, and “we will have another few weeks and months probably ahead of us where tariffs will be a big topic”, says Dr Dirk Steffen, the Private Bank’s EMEA CIO. But that doesn’t mean that gloom will be the predominant mood. “We are actually quite confident that companies will find a way to deal with negative tariff news”, Dirk says.

Meanwhile, investors are showing clear interest in the tech megacaps that are spending heavily on artificial intelligence. “CapEx in the artificial intelligence space is clearly there”, Dirk notes. “We are talking hundreds of billions of US dollars being put to work.”

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