European Stock Markets React to US Tariffs

European stock markets opened lower on Friday, as investors grappled with the impact of newly announced US trade tariffs. The European Union, Britain, Norway, and Switzerland are facing duties ranging from 10% to 31%, causing widespread concern among market participants.

Retaliatory Measures and Political Responses

The EU has announced plans for retaliatory measures against the US if negotiations fail. French President Emmanuel Macron has urged domestic businesses to reconsider US investments, while Germany's acting economic minister, Robert Habeck, suggests that a unified European response could pressure the US to reconsider.

Market Performance Highlights

Key indices such as the DAX, FTSE 100, CAC 40, and Euro Stoxx 50 all saw declines at opening. Notable drops included Deutsche Bank and Standard Chartered, with Societe Generale SA and BBVA BANCO BILBAO also experiencing significant losses.

Currency Movements

The euro remained stable against the dollar, while the pound saw a slight decrease in value, reflecting the market's cautious stance in light of the ongoing trade tensions.