在米兰，富时MIB指数周三下跌926点，跌幅2.75%。Saipem（-7.36%）、Recordati（-6.01%）和泰纳瑞斯（-5.54%）领跌。

In Milan, the FTSE MIB Index dropped 926 points or 2.75 percent on Wednesday. Losses were led by Saipem (-7.36%), Recordati (-6.01%) and Tenaris (-5.54%).

富时MIB指数继续暴跌，周三下午下跌近4%，与欧洲和美国同行持平，因交易员对中美贸易战加剧作出反应。北京宣布，在特朗普政府今天实施关税后，从本周四开始，对进入中国的美国产品的关税将上调至84%。新的“互惠”措施包括对部分欧盟产品征收20%的互惠关税。作为回应，据报道，欧盟委员会正在考虑对价值超过220亿欧元的美国农产品和工业出口征收高达25%的报复性关税。此外，特朗普周二表示，美国将很快公布对药品进口的“重大”关税，这引发了人们对关税影响新行业的担忧。在商业方面，所有行业都严重亏损，尤其是银行和石油公司。

The FTSE MIB continued to plunge, falling nearly 4% on Wednesday afternoon, in line with European and US peers, as traders reacted to an intensifying Sino-US trade war. Beijing has announced that tariffs on American products entering China will rise to 84% starting this Thursday, following the implementation of the Trump administration's customs duties today. The new "reciprocal" measures include a 20% reciprocal tariff on select European Union products. In response, the European Commission is reportedly considering retaliatory tariffs of up to 25% on over €22 billion worth of American agricultural and industrial exports. In addition, Trump on Tuesday said that the U.S. will soon unveil a "major" tariff on pharmaceutical imports, stoking concerns over tariffs affecting new sectors. On the business front, all sectors traded deeply in the red, particularly banks and oil companies.

意大利10年期政府债券收益率升至3.9%，为3月14日以来的最高水平，此前美国国债收益率大幅攀升，反映出在贸易紧张局势加剧的情况下，传统避险资产的广泛抛售。周三，中国宣布将把所有美国商品的关税从34%提高到84%，以回应美国当天早些时候将中国进口商品的关税提高到104%的举措。关税升级加剧了人们对全球经济衰退和通货膨胀的担忧，引发了人们对央行可能面临有限的宽松政策空间的担忧。尽管如此，投资者仍押注欧洲央行将采取进一步行动。市场已经完全消化了欧洲央行4月份会议上降息的影响，预计到年底将再降息两次，如果情况恶化，猜测可能会超过第三次。

Italy’s 10-year government bond yield rose to 3.9%, its highest level since March 14, following a sharp climb in U.S. Treasury yields and reflecting a broader selloff in traditionally safe-haven assets amid intensifying trade tensions. On Wednesday, China announced it would raise tariffs on all U.S. goods to 84%, up from 34%, in response to the U.S. move earlier in the day to hike duties on Chinese imports to 104%. The tariff escalation has fueled fears of a global recession and sticky inflation, raising concerns that central banks may face limited room to ease policy. Still, investors are betting on further action from the European Central Bank. Markets have fully priced in a rate cut at the ECB’s April meeting, with two more reductions expected by year-end and speculation mounting over a possible third if conditions worsen.

周三早盘，富时MIB指数暴跌2%以上，至32800点以下，唐纳德·特朗普总统最新一轮关税生效后，全球抛售重新开始，加剧了人们对全面贸易战的担忧。新措施包括对部分欧盟产品征收20%的互惠关税。作为回应，据报道，欧盟委员会正在考虑对价值超过220亿欧元的美国农产品和工业出口征收高达25%的报复性关税。此外，特朗普周二表示，美国将很快公布对药品进口的“重大”关税。损失范围广泛，能源、银行和汽车股受到的打击最为严重。

The FTSE MIB tumbled more than 2% to below 32,800 in early trading on Wednesday, as a global sell-off resumed after President Donald Trump's latest round of tariffs took effect, exacerbating fears of a full-blown trade war. The new measures include a 20% reciprocal tariff on select European Union products. In response, the European Commission is reportedly considering retaliatory tariffs of up to 25% on over €22 billion worth of American agricultural and industrial exports. In addition, Trump on Tuesday said that the U.S. will soon unveil a "major" tariff on pharmaceutical imports. Losses were broad-based, with energy, banking, and automotive stocks among the hardest hit.