全球大跳水！欧股，开盘暴跌

Market Overview - European stock markets experienced significant declines, with the Stoxx 50 index down 6.2%, DAX down 7.1%, and FTSE 100 down 4.1% on April 7 [2][3] - The overall market downturn was part of a global trend, following declines in A-shares, Japanese, South Korean, and US stock indices [1] Sector Impact - European banking stocks, which had previously led gains, were among the hardest hit, with French bank stocks suspended from trading [5] - The automotive sector was also affected by the implementation of tariffs on imported cars by the Trump administration [5] Trade Policy and Economic Outlook - The European Central Bank warned that the trade war initiated by Trump could signify the end of the global free trade era, impacting economic expansion forecasts [6] - European companies, traditionally beneficiaries of globalization, are now facing vulnerabilities as they adapt to a more fragmented market [6] Investment Opportunities - Despite the negative impact of new tariffs on European economic growth, increased military and infrastructure spending is expected to support the economy [13] - New priorities such as energy independence and defense capabilities are emerging, potentially leading to more interventionist policies that could benefit certain sectors [14] - Companies in defense, telecommunications benefiting from digital transformation, and energy transition sectors are likely to be the main beneficiaries of these trends [14][15] Strategic Recommendations - Investors are advised to adopt a "barbell strategy," focusing on domestic cyclical industries and resilient companies while also allocating to sectors benefiting from European interventionist policies [15] - Long-term monitoring of winners and losers in the energy transition supercycle and demographic changes will be crucial for investment strategies in Europe [15]