SHARES of top container shipping lines slumped as markets feared what Donald Trump's presidency would mean declining trade volumes, reported Bloomberg
SHARES of top container shipping lines slumped as markets feared what Donald Trump's presidency would mean declining trade volumes, reported Bloomberg. Maersk fell the most in a month, slipping as much as 6.9 per cent, while Hapag-Lloyd and HMM also dropped.
Markets globally have been digesting Trump's victory, with the dollar and US equity markets soaring. Investors are wagering that his second term will look a lot like the first one, with a host of policies geared towards stoking domestic growth - but that also include tariffs that add friction to trade.
Container shares have fallen on 'the obvious hit from global trade barriers on the flow of finished goods,' said Jorgen Lian , an analyst at DNB Markets. 'Stocks such as Maersk are getting some stick on the headline thematics, especially after a significant run over the past week prior to the election.'
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