European Markets React to Global Tariff Announcements

As the European markets opened on Monday, a wave of pessimism swept across the continent. Investors grappled with the implications of reciprocal tariffs proposed by United States President Donald Trump, targeting all countries, and a looming 25% duty on foreign-made vehicles set to begin on April 2. The uncertainty was palpable, with eyes also on Germany's upcoming annual inflation rate update.

Significant Losses Across Major Indexes

The DAX led the decline, plunging by 2.04% by midday CET. Not far behind, the CAC 40 and Euro Stoxx 50 slid by 1.90% and 1.93%, respectively. The FTSE 100 also felt the pressure, dropping by 1.33%.

Currency Markets Hold Steady

Despite the turmoil in equity markets, the euro and pound sterling remained stable against the US dollar, trading at $1.08262 and $1.29414, respectively, by early afternoon CET.