European Markets React to China's Tariff Response

Following Beijing's decision to impose tariffs on US goods, mirroring Washington's recent hikes, major European stock markets experienced significant losses. This move comes as a direct response to the US increasing tariffs on Chinese exports to a combined 125%, with reports suggesting figures even reached 145%.

Impact on European Stock Indexes

At 10:36 am CET, the DAX fell by 1.37% or 281 points, while the CAC 40 declined by 0.91%. The Euro Stoxx 50 and FTSE 100 also saw decreases, dropping by 1.03% and 0.50% respectively. Spain's IBEX 35 and Italy's FTSE MIB weren't spared, with losses of 0.49% and a notable 1.75% or 600 points. The Swiss Market Index (SMI) decreased by 0.96% or 107 points.

Currency Fluctuations Amid Tariff Tensions

The euro surged by 2.14% against the dollar, reaching $1.14373, and the pound sterling appreciated by 1.12% to $1.31156, highlighting the immediate financial repercussions of the tariff announcements.