European Markets Experience Sharp Decline

European markets closed significantly lower on Monday, as investors worldwide prepared for the sweeping US trade tariffs scheduled to take effect on Wednesday. The downturn was widespread, affecting all sectors, with autos and mining shares leading the losses.

Notable Stock Performances

Shares of major automotive companies such as Volkswagen, Mercedes-Benz, and Renault each fell by 2.5%. The Stoxx Basic Resources index reached its lowest point since 2020, highlighting the sector's struggles.

Market Indices and Currency Movements

The DAX dropped by 1.25%, losing 281 points, with Ing hc F Porsche AG seeing a decrease of 3.78%. The CAC 40 and FTSE 100 also fell by 1.55% and 0.82%, respectively. In currency markets, the euro and British pound weakened against the dollar, trading at $1.08128 and $1.29185 by late afternoon CET.