European Stocks Dive in Premarket Trading

Major European stock indexes experienced significant declines during premarket trading on Monday. The focus of investors has sharply turned towards the European Union's response to the recent 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 saw a sharp drop of 4.83%, losing 1,013 points by 7:42 am ET. Not far behind, the British FTSE 100 decreased by 0.79% shortly after. France's CAC 40 wasn't spared, with a 2.58% decline, and the Euro Stoxx 50 fell by 4%. Italy's FTSE MIB faced the steepest fall, plummeting by 7.44%, while Switzerland's SMI and Spain's IBEX 35 recorded losses of 5.38% and 6.33%, respectively.

Currency Movements Amid Market Chaos

Amid the market downturn, the euro showed a slight increase of 0.25% against the dollar, trading at $1.09910. The British pound also saw movement, last recorded at $1.29099 against the dollar.