European Markets React to Trade War Escalation

In a significant development, major European stock indexes opened lower this Thursday, signaling investor concern over the intensifying trade war between the European Union and the United States. The EU has recently imposed $26 billion worth of countermeasures in response to Washington's introduction of 25% tariffs on steel and aluminum, a move that has sent ripples through the global markets.

Economic Indicators in Focus

Amidst the trade tensions, economic data remains a key focus. The Swiss Federal Statistical Office reported a 0.3% rise in the producer and import price index for February, highlighting the ongoing economic adjustments. Additionally, the Eurozone is poised to release industrial production figures, which are eagerly awaited by market analysts and investors alike.

Market Performance Overview

The DAX decreased by 0.38% at the open, while the FTSE 100 went down by 0.29%. The CAC 40 and the Euro Stoxx 50 also saw declines, dropping by 0.14% and 0.27% respectively. Currency markets were not immune to the turmoil, with the euro trading 0.23% lower against the dollar, and the pound losing 0.12% compared to the greenback.

More to come...