Market Reactions to Tariff Increases

Following Beijing's decision to impose tariffs on US goods, mirroring Washington's recent hike to 125% on Chinese exports, major European stock indexes experienced significant losses. Reports suggest that in some cases, US tariffs on China have even reached 145%.

Index Performance Across Europe

The DAX fell by 1.37% or 281 points, while the CAC 40 and Euro Stoxx 50 saw declines of 0.91% and 1.03%, respectively. The FTSE 100 and Spain's IBEX 35 also dropped by 0.50% and 0.49%, with Italy's FTSE MIB and the Swiss Market Index (SMI) experiencing sharper falls of 1.75% and 0.96%.

Currency Movements

Amid these developments, the euro surged by 2.14% against the dollar, reaching $1.14373, and the pound sterling increased by 1.12% to $1.31156.