European Stock Markets React to US Tariffs

European stock markets experienced a downturn in premarket trading this Wednesday, as the implementation of sweeping US tariffs on imports from various countries dampened investor sentiment. Notably, a 104% duty on Chinese goods has been a focal point of concern.

Market Performance Highlights

By 8:00 am CET, significant declines were observed across major indices: the DAX plummeted by 3.74%, the FTSE 100 by 3.18%, and the CAC 40 by 1.87%. The Euro Stoxx 50 and Switzerland's SMI also saw substantial drops, highlighting widespread market unease.

Currency Movements

Amid the turmoil, the euro and pound showed resilience against the dollar, with the euro appreciating by 0.91% and the pound by 0.56%, offering a silver lining to the day's financial narrative.