European Stock Markets Experience Sharp Declines

Investors across Europe are on edge as major stock indexes suffer significant losses during premarket trading. The focus is squarely on how EU leaders will counter the reciprocal tariffs announced by United States President Donald Trump, set to take effect on April 9.

Indexes Across Europe Take a Hit

Germany's DAX led the downturn with a 4.83% drop, shedding 1,013 points, while the UK's FTSE 100 saw a more modest decline of 0.79%. Not far behind, France's CAC 40 and the Euro Stoxx 50 fell by 2.58% and 4% respectively. Italy's FTSE MIB was the hardest hit, plummeting by 7.44%, with Switzerland's SMI and Spain's IBEX 35 also experiencing significant losses of 5.38% and 6.33%.

Currency Movements Amid Market Chaos

In currency markets, the euro showed slight resilience, trading 0.25% higher against the dollar at $1.09910. Meanwhile, the British pound held steady against the dollar, selling for $1.29099.