European Markets React to US Tariff Announcements

European stock markets opened sharply lower on Monday, as investors anxiously awaited the EU's response to the latest US tariff threats. The announcement by President Donald Trump, set to take effect on April 9, has sent shockwaves through the markets.

Indexes Across Europe See Significant Drops

Germany's DAX led the declines, plunging 4.83% or 1,013 points by 7:42 am ET. Not far behind, Italy's FTSE MIB suffered a staggering 7.44% drop, while France's CAC 40 and the Euro Stoxx 50 fell by 2.58% and 4%, respectively. The British FTSE 100 showed relative resilience, slipping by only 0.79%.

Currency Movements Amid Market Volatility

In currency markets, the euro edged 0.25% higher against the dollar, trading at $1.09910. The British pound also saw movement, last trading at $1.29099 against the dollar.