The escalating trade conflict is causing significant market turbulence, leading to a sell-off in the stock markets. The S&P 500 and US high-yield bonds are particularly affected, while China responds with counter-tariffs of 34 percent. Investors are retreating from risky positions and favoring safe assets.
In the Eurozone, growth expectations have been downgraded. For 2025, GDP growth is now only expected to reach 0.9 percent, which is reflected in negative ZEW confidence figures.
In the United States, earnings forecasts for S&P 500 companies have also been lowered. Nonetheless, there remains potential for certain growth sectors, such as artificial intelligence.
The real estate financing market might remain stable, with construction interest rates between 3 and 3.5 percent next year. Despite global challenges, interest in sound investment opportunities persists.