European Markets React to New US Tariffs

European stock markets faced significant losses on Friday, as leaders across the continent deliberated on how to respond to the latest tariffs imposed by United States President Donald Trump. The tariffs include a 20% levy on European Union exports and a 10% charge on goods from the United Kingdom.

Market Performance Highlights

DAX experienced a sharp decline, dropping by 2.13% or 463 points by 10:35 am CET. Similarly, CAC 40 fell by 1.76% or 133 points, while the Euro Stoxx 50 decreased by 2.10% or 107 points. The FTSE 100 wasn't spared either, witnessing a 1.44% or 121 point drop by 10:51 am CET.

Currency Impact

The euro weakened against the dollar, losing 0.49% to trade at $1.09968 by 10:51 am CET. The pound sterling also suffered, depreciating by 0.85% against the US dollar to $1.29883.