European Markets React to Trump's Tariff Confirmation

European stock indexes showed a downward trend in premarket trading on Thursday, following the announcement by United States President Donald Trump regarding the imposition of tariffs on cars and other products from the European Union. This move has sparked concerns over the potential impact on trade relations between the US and the EU.

Economic Indicators to Watch

Investors are also keeping an eye on several key economic reports set to be released later in the day, including Spanish consumer inflation, French producer inflation, and Swiss gross domestic product (GDP). These reports could provide further insights into the economic health of the region amidst the ongoing trade tensions.

Market Performance

At 8:00 am CET, the DAX dipped by 0.15%, and the FTSE 100 declined by 0.17%. The CAC 40 decreased by 0.25%, while the Euro Stoxx 50 tumbled 0.43%. Currency markets also felt the pressure, with the euro losing 0.13% against the dollar, trading at $1.04724 at 7:58 am CET. The British pound also traded 0.10% lower against the greenback, selling for $1.26627.