European Markets Face Sharp Declines

Major European stock indexes experienced significant losses at the close of Wednesday's session, as concerns over the global economic outlook and escalating trade wars weighed heavily on investor sentiment.

Trade Wars Intensify

The imposition of new tariffs by the United States has sparked retaliatory measures from countries around the world, further exacerbating tensions and uncertainty in global markets.

Index Performances

The DAX plummeted by 2.99%, with Fresenius leading the downturn at a 5.28% drop. Similarly, the Euro Stoxx 50 and CAC 40 fell by 3.09% and 3.34%, respectively, with Sanofi suffering the largest loss at 6.89%. The FTSE 100 wasn't spared, sliding 2.92%, as Astrazeneca dropped by 6.82%.

Across Europe

Other European markets also ended the day in the red, with the Swiss Market Index down 4.68%, Italy's FTSE MIB decreasing by 2.82%, and Spain's IBEX 35 shedding 2.30%.

Currency Movements

Amid the market turmoil, the euro gained 0.95% against the dollar, trading at 1.10632, while the pound saw a modest increase of 0.16%, reaching 1.27862.