Europe stocks close 3.7% higher for best session in three years as U.S. sell-off resumes
European markets rose sharply on Thursday after U.S. President Donald Trump temporarily reversed course on much of his tariff policy, even as uncertainty reigned on Wall Street.
The regional Stoxx 600 index closed 3.7% higher for its best session in three years, with stocks across the board surging to place all individual sectors firmly in positive territory. Banking, industrials and tech stocks notched the biggest gains, surging 5.15%, 4.9% and 4.5%, respectively.
In a volatile week for markets that has been marked by big moves higher and lower, the Stoxx 600 ended the prior session down 3.5% at its lowest closing level since January 2024.
But later on Wednesday, Trump temporarily reduced new tariff rates on imports from most U.S. trade partners to 10% for 90 days — a reversal from previous comments in which he insisted duties would not be lifted.
Source : CNBC