Lisbon stock market plummets more than 5% on opening bell

Market simply reflecting wider worldwide financial turmoil

The Lisbon stock market opened down sharply today, with the PSI (Portuguese Stock Index) falling 5.26% to 6,286.68 points.

On Friday, the market closed down 4.75% to 6,635.79 points, with EDP Renováveis and BCP recording losses of over 9%, on a day of sharp falls in Europe and across the wider world due to the tariffs imposed by US President Donald Trump.

Today also there will be more ‘calls’ from various quarters for a pull back from the tariffs, to which the European Commission will be leading the response for member states.

Curiously, the weekend saw Mr Trump’s former ‘great buddy’ Elon Musk defend that the best way forwards for his adopted country and Europe will be ‘zero tariffs’ – not the 20% arbitrarily decided by the US president, along with the 25% on all car imports into America – suggesting the rather bizarre bromance between the two men may be coming to an end. ND