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Markets Up; Nokia Soars, Trump Raises Tariffs, Deploys Freedom Fleet

5/4/2026

29 6 Full Breakdown

Summary

Story summary

Markets rose as Stoxx 600 gained 0.1% and Italy’s FTSE MIB gained 0.4%.
Nokia rose 7% after Inseego announced an acquisition, taking gain over 100%.
President Donald Trump said he will raise EU car and truck tariffs to 25%, sending automakers down 1.6%.
Trump unveiled Project Freedom escort ships with 15,000 troops after a vessel was hit north of Fujairah, UAE, as Brent fell to $107.38 and WTI to $101.10.

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Story summary

Markets rose as Stoxx 600 gained 0.1% and Italy’s FTSE MIB gained 0.4%.
Nokia rose 7% after Inseego announced an acquisition, taking gain over 100%.
President Donald Trump said he will raise EU car and truck tariffs to 25%, sending automakers down 1.6%.
Trump unveiled Project Freedom escort ships with 15,000 troops after a vessel was hit north of Fujairah, UAE, as Brent fell to $107.38 and WTI to $101.10.