European Shares Dip as Trade Court Challenges Trump Tariffs
European shares fell as initial optimism faded over a U.S. court blocking some Trump tariffs. The STOXX 600 dipped 0.2% as a legal battle looms. Wall Street rose, bolstered by Nvidia's sales surge. Regional indexes remained flat or lower, except in semiconductors. Utilities and Auto Trader posted declines.
The broader European market experienced a downturn on Thursday, reflecting the waning impact of a U.S. court's decision to challenge some of President Donald Trump's tariffs. The STOXX 600 index closed down by 0.2% amid lingering uncertainty.
The Court of International Trade's ruling, which claims Trump overstepped his authority, sparked an immediate appeal from his administration. Experts suggest that a lengthy legal process might ensue, potentially impacting market dynamics significantly.
Despite the overall dip, Wall Street indexes rose, driven by Nvidia's impressive quarterly sales report. European semiconductor stocks, including ASM International and Soitec, benefited from this positive news, despite broader technological fluctuations and significant downturns in the utilities sector.
(With inputs from agencies.)
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