European Markets Brace for Volatility Amid Trump's Trade Tactics
European shares remained flat as investors anticipate trade announcements from President Trump regarding imminent tariff changes. The STOXX 600 index held steady with varied performances among regional indexes. Trump's planned tariff notifications to 12 countries, potential deals, and EU trade talks contributed to market uncertainty.
European markets were largely static on Monday as investors await potential trade announcements from U.S. President Donald Trump regarding upcoming tariff deadlines. The pan-European STOXX 600 index remained stable at 541.15 points, and while Germany's DAX experienced a slight rise of 0.4%, France's CAC 40, Spain's IBEX, and the UK's FTSE 100 each declined by 0.1%.
President Trump announced on Sunday that the United States is close to securing several trade agreements, with notifications of higher tariffs to other countries set for July 9, effective August 1. Trump also indicated a possible additional 10% tariff on countries adhering to BRICS' 'anti-American policies', potentially heightening tariffs up to 70%.
The U.S. continues talks with the European Union in hopes of nearing a trade agreement; however, European energy and insurance stocks presented mixed results amid market fluctuations. Meanwhile, China's countermeasures against EU medical device purchases impacted stocks like Carl Zeiss Meditec and Merck Kgaa.
(With inputs from agencies.)
Google News