European Markets React to Trump's Tariff Announcement

European stock indices faced a downturn in premarket trading this Thursday, following the announcement by U.S. President Donald Trump regarding the imposition of tariffs on cars and various products from the European Union. This development has sparked concerns over the future of transatlantic trade relations.

Economic Indicators to Watch

Amidst the market's reaction to the tariff news, investors are also keeping a close eye on several key economic reports expected to be released later in the day. These include Spanish consumer inflation, French producer inflation, and Swiss GDP figures, which could provide further direction for the markets.

Market Movements

As of 8:00 am CET, notable movements were observed across major European indices. The DAX saw a slight decrease of 0.15%, while the FTSE 100 and CAC 40 dipped by 0.17% and 0.25%, respectively. The Euro Stoxx 50 experienced a more significant drop, tumbling 0.43%.

Currency Fluctuations

In the currency markets, the euro and British pound both weakened against the US dollar. The euro was down by 0.13%, trading at $1.04724, and the British pound fell 0.10% to $1.26627 at 7:58 am CET.