European Markets React to US Trade Tariffs

In response to the United States' recent imposition of 25% tariffs on steel and aluminum, the European Union has retaliated with $26 billion worth of countermeasures. This escalation in trade tensions has led to a noticeable dip in major European stock indexes as markets opened on Thursday.

Economic indicators are also under scrutiny today. The Swiss Federal Statistical Office has reported a 0.3% increase in the producer and import price index for February, signaling subtle shifts in the economic landscape. Meanwhile, the Eurozone is poised to release its latest industrial production figures, adding another layer of anticipation for market watchers.

Stock Indexes and Currency Movements

At the opening bell, the DAX index saw a decrease of 0.38%, with Daimler Truck experiencing a significant drop of 8.90%. Similarly, the FTSE 100 and CAC 40 indexes were not spared, declining by 0.29% and 0.14% respectively. The Euro Stoxx 50 also fell by 0.27%, with Infineon Technologies leading the downturn with a 2.18% decrease.

On the currency front, the euro and pound both lost ground against the dollar, with the euro trading 0.23% lower at $1.08622 and the pound decreasing by 0.12% to $1.29487.