European stock markets declined on Friday
European stock markets declined on Friday, with the Stoxx 50 dropping 1.1% and the Stoxx 600 falling 0.8%, marking its third consecutive negative close. Investors reacted to U.S. economic data, particularly the core personal consumption expenditures (PCE) price index, which rose unexpectedly to 2.8%, signaling persistent inflation. This put pressure on European markets, which had already been weighed down by U.S. President Donald Trump’s announcement of a 25% tariff on foreign-made cars, set to take effect on April 2. Trump also threatened further tariffs on the EU and Canada, escalating trade tensions.
Meanwhile, inflation data from Spain and France showed softer-than-expected results, with France’s inflation holding steady at 0.9% and Spain’s dropping to 2.2%. In corporate news, shares of Ubisoft went down almost 2% after Chinese tech giant Tencent announced a $1.25 billion investment in a subsidiary focused on Ubisoft’s gaming franchises.
Source: Trading Economi