Market Overview

European stock markets opened lower on Monday, with significant indices such as the Euro Stoxx 50 and CAC 40 dropping over 2%. This downturn comes as global trade war concerns intensify, following US President Donald Trump's announcement of imposing tariffs on the European Union, alongside existing tariffs on Canada, Mexico, and China.

Key Performers and Movers

At the opening bell, the DAX fell by 1.98%, with Rheinmetall dropping 1.03%. The Euro Stoxx 50 and CAC 40 saw significant losses, with Stellantis leading the decline, plummeting 5.73%. The FTSE 100 also started the session with a 0.80% loss, highlighted by a 4.19% tumble in Scottish Mortgage Investment Trust.

Currency Movements

In currency markets, the euro was down 1.43% against the dollar, trading at 1.02249, while the pound shed 0.93% against the dollar, trading at 1.22842.