07.04.2025 12:10
The new customs tariffs implemented by U.S. President Donald Trump have affected global markets, including Borsa Istanbul. The BIST 100 index started the first trading day of the week with a decline of 3.4%, while the banking index saw a drop of nearly 4%. The price of gold per gram has also reached its lowest level in the last three weeks.
The wave of sales triggered by the reciprocal tariffs implemented by U.S. President Donald Trump has also affected Borsa Istanbul on the first trading day of the week. The BIST 100 index started the week with a sharp decline.
SECTOR-BASED INDEX DROPPED BY 4%
The BIST 100, which started the day at 9,062 points with a loss of 3.4%, particularly saw significant losses in the banking index. The sector index dropped nearly 4% at the opening.
Increasing uncertainty and risk perception in global markets have led investors to increase their selling positions. Analysts stated that developments regarding the U.S. trade policies would be decisive for the direction of the markets throughout this week.
In the domestic market, weekly money and bank statistics will be monitored, while abroad, news flow regarding the U.S. tariffs and the Sentix investor confidence index and retail sales data to be announced in the Eurozone are expected to be prominent.
Experts evaluating the technical outlook indicate that the support levels for the BIST 100 index are at 9,100 and 9,000 points, while the resistance points are marked at 9,200 and 9,300 points.
GOLD IS ALSO FALLING
Following the reciprocal tariffs announced by Trump, gold prices fell to their lowest level in three weeks due to sales. The price of gold today dropped to $2,972.4 per ounce. The gram of gold, on the other hand, decreased by 0.61% to 3,688.142 lira.
BITCOIN DROPPED BELOW $75,000 DUE TO TARIFF UNCERTAINTY
Macroeconomic uncertainties have pushed investors away from risky assets, leading to a chain reaction of liquidity contraction and increased panic selling. The second-largest cryptocurrency, Ethereum (ETH), experienced a sharp decline of 14% in the last few hours. Ethereum fell to $1,538 during the day, with increasing selling pressure noted.
The price of Bitcoin saw a drop of 7%, falling below $77,000. After reaching a peak of $107,000 in December 2024, Bitcoin declined to $76,900 this morning, experiencing a correction of 28%.
With these losses, the total market value of cryptocurrencies decreased by 8.56% in 24 hours.
HEAVY LOSS IN GLOBAL STOCK MARKETS
Following U.S. President Donald Trump's implementation of high tariffs, not only Turkey but also global markets experienced intense selling pressure. Asian stock markets started the week with a significant collapse, while U.S. futures indices and European markets also saw sharp declines.
In Japan, the Nikkei 225 index fell by 8.8% in the morning hours, dropping to 30,792 points, marking its lowest level since October 2023. The Topix Banking Index also drew attention with a decline exceeding 17% during the day. In the last three trading days, the Japanese banking sector lost about a quarter of its total market value.
A similar picture was observed in U.S. futures indices. The Dow Jones futures index lost 2.69%, the S&P 500 3.47%, and the Nasdaq 100 4.36%. In Europe, the FDAX fell by 4%, Eurostoxx 50 by 3.56%, and FTSE 100 by 2.55%.
MARKETS AWAIT TRUMP'S NEW MESSAGE
Experts indicate that investors are expecting softening messages from the White House throughout the weekend, but the Trump administration's refusal to back down and statements of "we are determined" have increased uncertainties. The rekindling of trade wars has raised risk perception globally, leading investors to move away from safe havens and causing sharp sell-offs in stocks.