European Stocks Tumble
Major European exchanges tumbled on Thursday, with both the STOXX 50 and STOXX 600 sinking over 2%, amid a global stock sell-off following President Trump's latest tariff announcement. The move triggered a broad flight to safety and deepened concerns over its impact on the global economy. The European Union will face tariffs of up to 20%, prompting European Commission President Ursula von der Leyen to warn that the measures would deal “a major blow” to the global economy.
She also confirmed that the EU was preparing countermeasures. Losses were broad-based, with basic resources and banks among the worst-performing sectors. On the corporate front, shares of Siemens, Airbus, Essilor, Schneider Electric, BNP Paribas, UniCredit, and Intesa Sanpaolo all dropped more than 3%. ASML Holding slid nearly 2.9%, while LVMH declined more than 2%.
Source : Trading Economics
