European Markets React to Upcoming US Tariffs

As the opening bell rang across Europe, major indexes showed a downward trend. Investors are closely watching the impending United States tariffs, set to take effect on April 2, alongside a flurry of economic data releases.

Economic Data Highlights

Germany's retail sales saw a 4.9% increase in real terms for February, signaling a positive consumer outlook. Meanwhile, the financial community awaits the United Kingdom's mortgage approvals, Italy's consumer price index, and the Bank of England's Quarterly Bulletin for further market direction.

Market Performance Overview

The DAX fell by 0.97%, with Siemens leading the decline at 3.40%. The FTSE 100 wasn't far behind, dropping 0.29%, as Associated British Foods lost 3.44%. The Euro Stoxx 50 and CAC 40 also faced declines, with BASF and Teleperformance being the hardest hit, respectively.

Currency Movements

In currency markets, the euro and pound sterling both gained against the dollar, trading at 1.08406 and 1.29608, respectively, reflecting a slight shift in investor sentiment.