With growing apprehensions surrounding US President Donald Trump’s proposed tariff measures, which are feared to escalate the global trade conflict and potentially trigger economic instability, European stock markets began the week on a similarly negative note, mirroring the downturn observed in Asian markets.
President Trump has announced that April 2 will be marked as ‘Independence Day’, when he is expected to unveil a new and extensive list of tariffs, both in scope and scale.
In Germany, the DAX index witnessed a 0.9% decline at the opening bell. Meanwhile, in the UK, the FTSE 100 index showed a 0.4% drop, and the FTSE 250 index saw a decrease of 0.6%. France’s CAC 40 index also started with a 0.9% fall.
The broader European market, represented by the Stoxx Europe 600 Index, commenced trading with a 0.9% downturn, reflecting the widespread investor anxiety over the potential ramifications of the US administration’s trade policies.
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