Market Turmoil Following Trump's Tariff Announcement

Germany's DAX index experienced a significant drop, plummeting by 2.70% this Tuesday. This decline is part of a broader trend affecting European markets, as investors react to the latest tariffs imposed by the United States on Canada, Mexico, and a substantial 20% tariff on China. These measures have already prompted China to take retaliatory actions, raising concerns over an escalating global trade war.

European Markets React

At 2:27 pm ET, the DAX was down by 2.73%, while the Euro Stoxx 50 saw a decrease of 2.45%. Similarly, the FTSE 100 and CAC 40 were not spared, with declines of 0.73% and 1.79% respectively.

Euro Strengthens Against the Dollar

Amidst the market turmoil, the euro showed resilience, appreciating by 0.55% against the dollar, trading at $1.05423 at the same time.