European Stock Markets Open Lower Amid US Tariff Announcements

European stock markets opened lower on Friday, reacting to the recent announcement of American trade tariffs. The European Union is facing a 20% duty, with Britain, Norway, and Switzerland also hit with significant tariffs.

EU Plans Retaliatory Measures

In response to the US tariffs, the European Union has announced plans for retaliatory measures if negotiations fail. French President Emmanuel Macron has advised businesses to reconsider US investments, while Germany's acting economic minister, Robert Habeck, suggests a unified European response could pressure the US to reconsider.

Market Reactions

The DAX fell by 0.50%, the FTSE 100 by 0.52%, France's CAC 40 by 0.69%, and the Euro Stoxx 50 by 0.78%. Notable declines included Deutsche Bank and Standard Chartered, with Societe Generale SA and BBVA BANCO BILBAO also experiencing significant drops.

Currency Movements

The euro remained stable against the dollar, while the pound saw a slight decline, reflecting the market's cautious stance amid ongoing trade tensions.