It was a rough start to the week for the Moroccan stock market. On Monday, the main index on the Casablanca Stock Exchange dropped by 5.63%, marking its biggest single-day loss in five years, according to media.
The sharp fall wiped around MAD 50 billion off the market’s value compared to last Friday.
This drop wasn’t just about local factors. Investors were reacting to rising global trade tensions, especially after the latest round of U.S. tariffs announced last week by President Donald Trump.
Since then, markets around the world have been on edge, and Morocco was no exception.
The MASI index, which had been holding steady above the 17,000-point mark for weeks, slid below that level during Monday’s trading.
As a result, the market’s gains for the year have nearly been cut in half, from about 20% to just 10%.
Across the board, most Moroccan stocks were deep in the red. Only a few companies managed to stay in positive territory, like Les Eaux Minérales d’Oulmès, Sanlam Morocco, and Maghreb Oxygène.
Meanwhile, big names like AFMA insurance and Auto Hall saw some of the sharpest drops.
Financial analysts say this market reaction is part of a bigger picture. The ongoing trade war is making it harder for businesses to predict earnings, and that uncertainty is scaring off investors.
Many are now looking to move their money into safer assets, especially with expectations of rising inflation and slowing global growth.
The fear is that these conditions will hit Moroccan companies, especially those that rely on exports or international deals.
One of the main concerns right now is the lack of clarity. No one knows how long the trade war will last or how serious its impact will be. That kind of uncertainty makes it tough for both businesses and investors to plan ahead.
Just a year ago, the mood was very different. Morocco’s stock market had been on a strong run, boosted by major local projects, especially those tied to the country’s preparations to co-host the 2030 World Cup with Spain and Portugal.
Big investments in infrastructure helped push up the shares of construction and banking companies. But now, those gains are being put to the test.
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