Market Overview

European markets experienced a downturn at the start of the week, with major indexes across the continent opening lower. Investors are closely monitoring the impending implementation of what could be the most significant batch of United States tariffs to date, scheduled for April 2.

Economic Data Highlights

Germany's retail sales saw a notable increase of 4.9% in real terms for February. Meanwhile, market participants are awaiting further economic indicators, including United Kingdom mortgage approvals and Italy's consumer price index figures. The Bank of England is also set to release its Quarterly Bulletin today.

Index Performance

The DAX led the decline, dropping by 0.97%, with Siemens shares falling sharply by 3.40%. The FTSE 100 wasn't far behind, decreasing by 0.29%, as Associated British Foods lost 3.44%. The Euro Stoxx 50 and CAC 40 also saw significant drops, with BASF and Teleperformance among the worst performers.

Currency Movements

In currency markets, the euro and pound sterling both made modest gains against the dollar, trading at 1.08406 and 1.29608, respectively.