European Markets React to US Tariffs

Following the announcement of sweeping trade tariffs by US President Donald Trump, European stock markets experienced a sharp decline. The DAX and EURO STOXX 50 were among the hardest hit, with significant drops in major companies like Adidas AG and STMicroelectronics.

Global Trade Tensions Escalate

The European Union, France, and Spain are swiftly moving to counteract the potential economic impact of these tariffs, which include a 20% levy on EU imports and a 10% charge on goods from the UK. The situation has caused turmoil not only in stock markets but also in currency exchanges, with the euro and pound seeing notable shifts against the US dollar.

Market and Currency Impacts

Shipping giant Maersk saw its shares plunge by 10%, highlighting the widespread effect of the tariffs. Meanwhile, the euro and pound made gains against the US dollar, signaling a complex interplay of market forces in response to the trade measures.