European Markets Plunge in Premarket Trading

Investors across Europe are on high alert as major stock indexes took a significant hit during premarket trading on Monday. The downturn comes as the market reacts to the announcement of reciprocal tariffs by United States President Donald Trump, set to take effect on April 9.

Indexes Across Europe Feel the Pressure

Germany's DAX was among the hardest hit, plunging 4.83% or 1,013 points by 7:42 am ET. Not far behind, Italy's FTSE MIB saw a dramatic slump of 7.44%, while Switzerland's SMI and Spain's IBEX 35 also faced steep declines of 5.38% and 6.33%, respectively. Meanwhile, the British FTSE 100 and France's CAC 40 experienced more modest dips of 0.79% and 2.58%.

Currency Movements Amid Market Chaos

In the currency markets, the euro saw a slight increase against the dollar, trading 0.25% higher at $1.09910. The British pound, however, remained steady against the dollar, trading at $1.29099.