Europe stocks close slightly lower as U.S.-China tariffs escalate; euro jumps to 3-year high against U.S. dollar
European stock markets closed lower on Friday to round off a choppy session and hugely volatile week, as concerns about a trade war between the U.S. and China mounted further.
The pan-European Stoxx 600 index closed 0.1% lower, following its best session since March 2022. The U.K.’s FTSE 100 closed 0.64% higher while the FTSE 250 was flat after data showed the British economy grew significantly more than expected in February.
Germany’s Dax and France’s CAC 40 fell by 0.9% and 0.3%, respectively.
Building on strong Thursday gains, the euro added another 1.3% against the U.S. dollar to trade around $1.134, its highest level since February 2022.
In a sign of continued nervous sentiment, the industrials, technology and energy sectors remained lower, while sectors perceived to be safer — utilities and consumer durables — traded higher.
It has been a choppy week for European, and global, markets as investors have been reacting to the frequent developments in global trade policy that were set off by U.S. President Donald Trump’s latest tariff plans.
Source: CNBC
