Europe’s stock markets drop amid Trump’s tariff threats against EU, Mexico

Major indices endure dense losses arsenic EU ministers hole to sermon effect to US president’s latest commercialized salvo.

Europe’s banal markets person dropped sharply arsenic investors measurement United States President Donald Trump’s latest tariff threats against the European Union and Mexico.

Major European indices suffered dense losses connected Monday arsenic EU ministers were acceptable to sermon their effect to Trump’s plans to enforce a 30 percent tariff connected the bloc’s goods from August 1.

Germany’s benchmark DAX had fallen astir 0.9 percent arsenic of 08:30 GMT, portion France’s CAC 40, Italy’s FTSE MIB and Spain’s IBEX 35 were down 0.7 to 0.8 percent.

The pan-European STOXX 600 scale dipped astir 0.5 percent.

The United Kingdom’s FTSE 100 bucked the sell-off, rising astir 0.2 percent.

In Asia, Japan’s Nikkei 225 fell astir 0.3 percent, portion Hong Kong’s Hang Seng edged up by astir the aforesaid amount.

US futures, which are traded extracurricular of regular marketplace hours, fell aboriginal connected Monday, with those tied to the S&P 500 and Nasdaq Composite indices some dropping much than 0.5 percent.

Markets are connected borderline up of Trump’s August 1 deadline for US trading partners to scope commercialized deals oregon look steep tariffs.

Despite months of negotiations, the Trump medication has truthful acold announced agreements with lone the UK, China and Vietnam.

EU officials person threatened to enforce retaliatory tariffs connected US goods worthy astir 100 cardinal euros ($117bn) if Brussels and Washington are incapable to scope a deal.

The EU is the US’s largest trading partner, with their two-way commercialized successful goods and services amounting to 1.7 trillion euros ($2 trillion) successful 2024, according to the EU statistic bureau Eurostat.

On Sunday, European Commission President Ursula von der Leyen announced that the bloc would delay retaliatory tariffs connected the US to August to springiness officials much clip to scope an statement with the Trump administration.

“We person ever been precise wide that we similar a negotiated solution,” von der Leyen said.