European Markets React to Tariff Announcement

European stock indexes experienced a downturn 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 among investors and could potentially impact the economic relations between the US and the EU.

Economic Reports to Watch

Investors are also keeping an eye on several economic reports scheduled for release 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 and influence market movements.

Market Performance

At 8:00 am CET, the DAX was down by 0.15%, the FTSE 100 declined by 0.17%, the CAC 40 decreased by 0.25%, and the Euro Stoxx 50 tumbled 0.43%. Currency markets also reacted, with the euro losing 0.13% against the dollar, trading at $1.04724, and the British pound trading 0.10% lower against the dollar, at $1.26627.