US Edition
European stocks set to open lower amid Trump's tariff rejig
EUROPEAN FINANCIAL MARKETS, AUG 1 – President Trump's tariffs raise US effective rate to 18%, highest since 1930s, causing European indexes to open down by up to 1.5%, with healthcare stocks under pressure.
- On Friday, futures data pointed to European indexes opening lower, with the FTSE 100 index down 0.2%, the Stoxx Europe 600 opening 0.3% lower and the Euro Stoxx 50 down 0.5%.
- President Donald Trump signed an executive order raising US effective tariff rates to about 18%, including a 35% tariff on Canadian goods and levies on 69 other countries.
- The Eurostoxx index dropped 1.6%, its lowest since late June, after Trump told firms to charge the US the same as other countries for new medicines, with AstraZeneca falling 3.9% and GSK down 1.6%.
- Amid nervy trading, markets reflected risk aversion ahead of this afternoon’s US labour market report and were also shaken by a downbeat Wall Street reaction to last night’s Amazon results.
- According to Capital Economics, higher tariffs present modest downside risks to global GDP growth and a small upside risk to US inflation.
20 Articles
20 Articles
The Spanish Stock Exchange has suffered a sharp fall this Friday, losing 1.88% and returning to the level of 14,100 points.This setback occurs in tune with the falls in the rest of Europe, in a session weighed down by the increase in trade tensions following the new tariff plan of the US president, Donald Trump.The main index of the national market, the Ibex 35, yielded 270.3 points in the first session of August, representing its biggest fall s…
Tension returns to the markets. The dollar weakens and European stock markets accelerate falls, in a context of growing concern over the first clear symptoms of economic cooling in the United States and fear of a new global recession. Added to the slowdown in the labour market is a sharper contraction of industrial activity and a renewed tariff front opened by Donald Trump. A combination that has sparked alarms among investors, causing an abrupt…
The Ibex 35 has concluded the week with a decline of 0.78%, until it stands at 14,126.7 points, in a period marked by trade negotiations, the season of business results, the new pause on the Fed's rates and the publication of a very weak employment report in the United States.According to market data consulted by Europe Press, the national selective has been particularly conditioned by the weekly result of the evolution of this Friday, in which …
Stocks around the world fell on Friday after US President Donald Trump unveiled his plan to impose tariffs on trading partners, threatening to end decades of international cooperation.
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