Global Trade War Concerns Hit European Markets

Major European stock exchanges opened lower on Monday as fears of a global trade war intensified. This comes after US President Donald Trump vowed to impose tariffs on the European Union, following similar actions against Canada, Mexico, and China.

Euro Area Inflation Data Awaited

Investors are also closely watching the upcoming euro area inflation data, expected to be released shortly. This data could provide further insights into the economic outlook for the region amidst these challenging times.

Market Performance

The DAX fell by 1.98% at 9:00 am CET, with Rheinmetall dropping 1.03%. The Euro Stoxx 50 and CAC 40 both saw significant declines, with Stellantis leading the losses. The FTSE 100 also started the session on a negative note, with Scottish Mortgage Investment Trust experiencing a sharp decline.

Currency Movements

In the currency markets, the euro and pound both weakened against the dollar, reflecting the broader market sentiment and concerns over the impact of the trade war on European economies.