European Markets React to Trump's Tariff Announcement

Following the announcement by United States President Donald Trump of new reciprocal tariffs, including a 20% levy on goods from the European Union, major European stock indexes opened lower on Thursday. Investors are closely monitoring the potential market impacts of these tariffs and awaiting key economic indicators.

Market Performance at Opening Bell

The DAX experienced a significant drop, falling by 2.13% or 502 points at the opening. Similarly, the FTSE 100 saw a decrease of 1.17%, while the CAC 40 and the Euro Stoxx 50 declined by 2.2% and 2.31%, respectively.

Currency Movements Amidst Tariff News

In currency markets, the euro strengthened against the dollar, gaining 1.24% to sell for $1.09886 by 8:58 am CET. The pound also saw an increase, up 0.85% against the dollar, trading at $1.31181 at 8:59 am CET.

More developments are expected as the market continues to digest the implications of these new tariffs.