Amsterdam AEX opens flat amid US import tariffs and AI market worries

The Amsterdam stock exchange (AEX) opened on Friday with little movement as investors remained cautious. Futures pointed to a modest rise of 0.1% before the opening bell, while the index had closed the previous day 1.3% lower.

Market sentiment was weighed down by newly announced United States import duties covering 60 countries. Products from the EU, Canada and the United Kingdom face a 10% tariff, while China and Japan are slated for a 12.5% rate. Analysts said the measures add a fresh source of volatility to financial markets, alongside rising energy prices, higher interest rates and ongoing Middle‑East tensions.

Technology stocks also drew attention. Concerns grew that large tech firms are channeling cash into artificial‑intelligence projects, potentially eroding the stable, cash‑rich business models investors favour. Companies such as Intel and SAP posted earnings that steadied the market after earlier declines in Alphabet and Tesla shares. Meanwhile, oil prices surged past $100 a barrel following attacks on Saudi tankers, further influencing market outlook.

Local Dutch companies reported mixed results: lighting firm Signify confirmed its full‑year outlook despite a quarterly revenue dip, and construction group Heijmans reiterated its 2026 guidance after posting solid six‑month revenue.