European Markets React to Trump's Tariff Announcement

Following the announcement of new tariffs by United States President Donald Trump, including a significant 20% levy on goods from the European Union, major European stock indexes opened lower on Thursday. This move has heightened investor concerns amidst anticipation of key economic reports from the UK, Germany, and the Eurozone.

Significant Drops Across Major Indexes

At the opening bell, the DAX fell sharply by 2.13%, equivalent to 502 points, with Bayer experiencing a notable 3.99% drop. Similarly, the FTSE 100 saw a 1.17% decrease, and JD Sports Fashion lost 5.22%. The CAC 40 wasn't spared either, decreasing by 2.2%, with Airbus plunging by 4.73%. The Euro Stoxx 50 also declined by 2.31%, marked by Adidas's dramatic 10.16% plummet.

Currency Movements Amidst Market Turbulence

In the currency markets, the euro gained 1.24% against the dollar, trading at $1.09886, while the pound was up 0.85%, selling for $1.31181. These movements reflect the immediate impact of Trump's tariffs and the ensuing market volatility.