ABD Tarife Gündemi: Küresel Piyasalarda Etkileri Neler? US Tariff Agenda: What Are Its Effects on Global Markets?

Weekly Bulletin on U.S. Tariff Agenda

While global markets are hitting record highs, U.S. President Trump’s announcement of an additional 100% tariffs on China has negatively affected investors' risk appetite. This situation, along with uncertainty, has caused prices for precious metals such as gold and silver to soar.

General Market Outlook

The ongoing government shutdown in the U.S. continues to raise concerns among investors. In the domestic BIST 100 index, a weak outlook prevails. However, the upcoming earnings season may potentially create a positive catalyst.

Highlights from Last Week

• Trump announced that as of November 1, an additional 100% customs tax on China will be applied, which had a negative impact on the markets.
• The S&P 500 index reached a level of 6,764, marking its 33rd record of the year, which was noted as a positive development.
• Silver prices rose to $51.24, while gold surpassed $4,059 with a historic increase.
• Morgan Stanley raised its year-end inflation forecast for Turkey from 30% to 31.5%, which led to negative effects in the markets.
• Bitcoin dropped by 8.3% and Ethereum lost 16.1% in value due to concerns over trade wars.

Opportunities and Weak Outlooks in Sectors

While a partial recovery is observed in global markets, there has yet to be a noticeable improvement in industrial PMI and production data. Especially during earnings seasons, significant fluctuations in stock prices of companies in high-season sectors may occur. Strong operational profitability has started to be seen in the aviation, alcoholic beverages, tourism, and healthcare sectors.

Notable Company Developments

• Advanced Micro Devices (AMD) signed a significant chip agreement with OpenAI.
• The U.S. approved Nvidia (NVDA) chip exports to the United Arab Emirates.
• Sabancı Holding is considering selling CarrefourSA and Teknosa.
• Turkish Airlines (THYAO) continues discussions with Boeing regarding aircraft purchases.

Conclusion and Investor Status

The global tariff agenda and domestic market developments continue to influence investor decisions. The fear and greed index indicates a decline in investor sentiment. As uncertainty increases in the markets, it is clear that investors need to be cautious.