The FTSE MIB index fell by 0.5% to below 39,900 in early trading on Monday, kicking off June on a weak note and tracking declines across global markets amid rising trade and geopolitical tensions. US President Donald Trump on Friday said tariffs on steel and aluminum imports would increase to 50% from the current 25%, effective June 4. He also accused China of violating a tariff truce reached in early May, a claim Beijing countered with its own accusations of US wrongdoing. Meanwhile, hostilities intensified between Russia and Ukraine ahead of a scheduled second round of peace talks in Istanbul, with a wave of attacks that included one of Ukraine's boldest strikes of the war and an overnight drone assault by Russia. On the corporate side, notable losses were seen from STMicroelectronics (-1.9%), Buzzi Unicem (-1.5%), Prysmian (-1.2%), and Stellantis (-1.1%).