Market Chaos Following Trump's Tariff Announcement

European markets experienced a significant downturn on Monday, reacting sharply to U.S. President Donald Trump's announcement of imposing a 20% tariff on the European Union and a 25% tariff on all foreign cars. This move has escalated trade tensions, leading to a widespread sell-off across European indices.

Global Reactions and Market Impacts

Trump's Sunday remarks, where he defended tariffs as a solution to the "massive" trade deficit, have further fueled market anxieties. EU trade ministers are now under pressure to formulate a unified response to counteract Washington's aggressive trade policies.

Index Performance at a Glance

By 9:00 am CET, the German DAX had fallen by 8.04%, losing 1,663 points. Other major European indices, including the British FTSE 100, Italy's FTSE MIB, Switzerland's SMI, Spain's IBEX 35, the French CAC 40, and the Euro Stoxx 50, also saw significant declines, ranging from 2.12% to 7.50%.

Currency Movements Amidst Market Volatility

The euro saw a slight increase of 0.35% against the dollar, trading at $1.10017, while the pound sterling remained stable at $1.29010 against the U.S. currency.

More updates to follow as the situation develops...