Nigerian Stocks Plummet Over N240bn Amid Trump's Threat, Market Sentiment Deteriorates
Nigerian stocks plunged by over N240 billion as investors repriced naira assets following US President Donald Trump's threat against Nigeria. The market experienced a 0.25% decline on Monday, with fears of a potential military invasion by the US affecting investor confidence.
Despite the negative impact, analysts expect a positive rebound in equities this week driven by renewed interest in undervalued stocks and improved Q3 earnings. The market's year-to-date return stands at a significant decrease of 49.37%.
Trump's recent comments have raised concerns about the risk premium on Nigerian assets, threatening to erode recent gains achieved through the nation's reform efforts.
Plus234Feed summary based on reporting from Business Day. Read the original report below.
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