European Markets Open Lower As Trump Tariffs Dent Sentiment
European markets opened in negative territory on Thursday, stumbling lower as President Donald Trump's tariffs policy upends global trading relationships.
The U.K.’s FTSE 100 index is expected to open 8 points higher at 8,537, Germany’s DAX down 47 points at 22,611, France’s CAC 2 points lower at 7,983 and Italy’s FTSE MIB 32 points lower at 38,230, according to data from IG.
The pan-European Stoxx 600
was 0.12% lower shortly after the opening bell, with all major bourses trading in the red. The autos sector sustained the biggest losses with telecom stocks bucking the trend to edge higher.
Investors in Europe will be keeping an eye on earnings from Hannover Re and Delivero, with no major data releases due today.
Thursday marks the second and final day of CNBC's CONVERGE LIVE event in Singapore, where business leaders, investors and policymakers are discussing the brewing global trade war. Follow CNBC's live coverage of the event here.
Volatility has been the flavor of the week for markets with Trump's tariffs on steel and aluminum imports — and retaliatory measures from the European Union and Canada — prompting declines across major exchanges.
S&P 500 futures ticked higher Wednesday evening after the index posted its first winning session this week. Sentiment was boosted after February's U.S. consumer price index came in softer than expected; headline inflation rose 0.2% from the previous month and 2.8% on an annual basis.
The figures bolstered optimism about the direction of the economy — amid growing concerns about a U.S. recession — although economists warn that tariffs are likely to quickly lead to higher prices for consumers.
Source:CNBC
