European Markets React to US Tariffs

As the clock struck midnight, the global economy braced itself for the impact of United States President Donald Trump's tariffs on Canada, China, and Mexico. The European stock markets were among the first to react, with major indices showing signs of distress in premarket trading on Tuesday.

The DAX index in Germany declined by 0.33% at 8:00 am CET, signaling investor anxiety. Similarly, the Euro Stoxx 50 tumbled by 1.03%, the CAC 40 in France lost 0.55%, and the UK's FTSE 100 remained flat.

Investors are now keenly awaiting unemployment figures from the Eurozone, Italy, and Spain, hoping for signs of resilience in the face of these new economic challenges.

Meanwhile, currency markets showed little movement, with the euro and the pound trading flat against the dollar at 7:58 am CET, at 1.04857 and 1.26977, respectively.