Global Economic Uncertainty Hits European Markets

As the trade war between major economies continues to create global economic uncertainty, European markets opened lower on Friday. The Swiss National Bank's decision to cut interest rates by 25 basis points, alongside the Bank of England and Sweden's Riksbank's choice to hold steady, reflects the cautious stance of central banks in these uncertain times.

Heathrow Airport Closure Adds to the Chaos

Adding to the day's challenges, Heathrow Airport remained closed following a massive fire at a nearby substation, which led to a significant power outage. This incident forced major airlines to cancel or divert flights, causing widespread disruption.

Market Movements and Currency Fluctuations

By 9:04 am ET, key European indices showed declines, with the CAC 40, FTSE 100, and DAX all experiencing drops. In the currency markets, the euro and pound both fell against the dollar, indicating a day of widespread financial uncertainty across Europe.