Trade Tensions Heat Up Between EU and US

As the trade war between the European Union and the United States intensifies, major European stock indexes have shown gains during premarket trading on Wednesday. The EU has responded to the US's imposition of 25% tariffs on steel and aluminum imports by announcing countermeasures that could amount to up to €26 billion.

Market Movements and Currency Fluctuations

At 8:00 am CET, the DAX increased by 0.49%, the FTSE 100 by 0.21%, the CAC 40 by 0.22%, and the Euro Stoxx 50 by 0.67%. Meanwhile, currency markets saw the euro drop 0.23% against the dollar to $1.08935, and the pound fall 0.26% to $1.29169 at 7:58 am CET.