Financial markets have experienced one of their worst starts to the year in decades. The imposition of broad tariffs by the Trump administration has triggered a global trade war dragging down stock markets, weakening currencies and spiking uncertainty. If you have savings and don't know what to do with them right now, this guide is for you.
What's happening with markets
In April 2026, major stock indices have suffered drops of 10-15% in just a few sessions. The S&P 500, DAX and IBEX 35 have pulled back amid escalating tariffs between the United States, China and Europe. The euro has strengthened against the dollar as investors seek safe-haven assets.
The best guaranteed savings options right now
For money already in cash — whether you don't invest in stocks or exited markets before the falls — here are the best options in euros for April 2026:
| Institution | Rate | Guarantee | Liquidity |
|---|---|---|---|
| Ibercaja (Cuenta Vamos) | 5.09% | FGD €100k | Instant |
| XTB (promo 3 months) | 3.50% | CNMV broker | Instant |
| Scalable Capital | 2.50% | EdB €100k | Instant |
| Pibank (12m deposit) | 2.12% | FGD €100k | No |
Government bonds: the classic safe haven
Spanish Treasury Bills (Letras del Tesoro) at 12 months yield around 2.3-2.5%. German Bunds (2-year) sit at ~2.55%. Both carry state guarantees and hold their value if held to maturity. If the ECB cuts rates further in response to trade-war recession risk, bonds you already hold will appreciate in price.
What to do based on your situation
Under €100,000 in cash: prioritise a flexible savings account (XTB, Scalable Capital) for maximum liquidity while rates stay reasonable.
€100,000–€300,000: spread across 2-3 institutions to stay within deposit guarantee limits. Combine instant-access accounts with a 12-month fixed deposit to lock in current rates.
If you hold equities: selling in panic is statistically the worst decision. Every comparable episode (2018 US-China trade war, 2020 COVID, 2022 inflation) eventually recovered.