European Markets Plunge as Trade Tensions Escalate

Major European stock markets faced significant losses this Friday, as the specter of a full-blown trade war looms larger following the latest tariff impositions by US President Donald Trump and China's swift retaliatory measures.

Market Reactions Across the Board

The DAX experienced a sharp decline, plummeting by 5.04%, or 1,093 points, by 12:57 pm CET. Similarly, the S&P 500 wasn't spared, dropping by 4.20%, or 319 points. The Euro Stoxx 50 and FTSE 100 also saw substantial decreases, sliding by 4.72% and plunging by 4.92%, respectively.

Currency Fluctuations Amidst Market Chaos

While the euro remained steady against the dollar, the pound sterling wasn't as fortunate, losing 0.60% of its value against the greenback.