European Markets React to US Tariff Announcements

Major European stock indexes faced significant losses as investors reacted to the latest developments in US trade policy. The announcement of reciprocal tariffs by US President Donald Trump and a looming 25% duty on foreign-made vehicles have sent shockwaves through the markets.

Market Performance Highlights

By midday, the DAX had plummeted by 2.04%, with the CAC 40 and Euro Stoxx 50 not far behind, dropping by 1.90% and 1.93% respectively. The FTSE 100 also saw a decline, falling by 1.33%.

Currency Stability Amidst Market Volatility

Despite the turmoil in the stock markets, the euro and pound sterling remained stable against the US dollar, trading at $1.08262 and $1.29414 respectively.