Tariff worry leaves markets a sea of red and trade war concern for house prices

Investors will be keeping a close eye on markets this morning after the stock market rout triggered by Trump’s tariffs spilled over into Monday. Europe and Asia were a sea of red and the main US indices - with the exception of the Nasdaq which just edged into the black in the final minutes - also ended up once again in negative territory though well above the levels at which they opened. Mark Hilliard and Ian Curran were monitoring events

Elsewhere, EU trade commissioner Maroš Šefčovič revealed that he had suggested that drop tariffs on transatlantic trade in industrial goods should drop to zero when he met US commerce secretary Howard Lutnick in February, weeks before Mr Trump ‘liberation day’ reciprocal tariffs. Jack Power was in Luxembourg where Tánaiste Simon Harris held out the prospect of supports for business sectors badly affected.

In Cantillon, we look at the question of threatened additional charges on the pharmaceuticals sector and whether the market slide might deter the US administration from action for the moment.

Meanwhile, Eoin Burke-Kennedy reports that the Government is holding back its spring forecast as it tries to assess the impact of the tariffs.

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King of Wall Street says European leaders ‘starting to focus on a growth agenda, not a control agenda’

Aviva vote on cancelling shares: what does it actually mean?

And in his column, Hugh Linehan argues that media and tech will not escape the long reach of the tariffs as any recession and loss of revenue will be a big hit for streamers and Big Tech.

Elsewhere, MyHome publishes its quarterly report on property prices this morning warning about the market’s “disproportionate reliance” on high income earners working in multinational sectors who would be first in the firing line in a trade war. Colin Gleeson reports.

Like house prices, groceries are on the rise again, with Conor Pope looking through Kantar’s latest report which shows prices are now climbing much faster than they were this time last year – with inflation in Irish supermarkets currently standing at just over 4.5 per cent.

Harry Cassidy, one-time chief executive of the failed Custom House Capital, got short shrift from the Court of Appeal where he argued the six year and 10 month sentence he is serving for conspiracy to defraud was “disproportionate” and “crushing”. It said the halving of his headline 14-year term had been “generous”. Stephen Bourke was in court.

In some good news on the construction front, the sector expanded at its fastest rate in three years last month despite rising cost inflation, according to the latest purchasing managers’ index, with the commercial sector leading the way. Hugh Dooley looks at the figures.

Minister for Transport Darragh O’Brien says he is awaiting advice from Attorney General Rossa Fanning on legislative options to life the passenger cap at Dublin Airport, writes Barry O’Halloran as American airlines hold out the prospect of dragging the issue into the widening transatlantic trade war.

In Personal Finance, Fiona Reddan looks at how the new Pay-Related Jobseeker’s Benefit will work as it offers to soften the blow of redundancy especially for higher paid workers.

In Q&A, a young reader is looking for guidance on juggling savings and debt as he prepares to buy his first car. And a first-time buyer finds Help to Buy allows for little wriggle room on moving for a new job, at least in those first five years.

And Room to Improve surveyor Patricia Power talks to Tony Clayton Lea about her first job, her best and worst money habits and the most solid investment she has made.

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