Market Reaction to US Tariffs

European stock markets opened lower on Friday, reacting to the recent announcement of American trade tariffs that have sent shockwaves through global markets. The European Union is facing a 20% duty, with varying rates applied to Britain, Norway, and Switzerland, sparking concerns over escalating trade tensions.

Retaliatory Measures and Political Responses

In response, the EU has hinted at retaliatory measures should negotiations fail. French President Emmanuel Macron has urged businesses to reconsider US investments, while Germany's Robert Habeck suggests a unified European stance could pressure the US to reconsider.

Stock Market Performance

Major indices including the DAX, FTSE 100, CAC 40, and Euro Stoxx 50 all saw declines, with significant drops in shares of leading banks and corporations. Currency markets also felt the impact, with the pound weakening against the dollar.