US EditionEuropean stocks plunge at the open as Trump’s reciprocal tariffs take effect
- European stocks fell due to fears linked to US President Donald Trump's tariffs on the global pharmaceutical sector, opening in the red on Wednesday.
- India's Sensex and Nifty indices both dropped as U.S. Markets closed lower due to recession concerns. Sensex fell 302 points or 0.41 percent.
- Japan's Nikkei index saw a decline of over three percent as fears regarding the US-China trade war affected market momentum.
- Trump's tariffs have raised concerns over a recession and altered the global trading system, with cumulative tariff increases reaching 104 percent on Chinese goods.
77 Articles
77 Articles
On Wednesday, the U.S. President announced that he would standardize reciprocal taxes to 10% with U.S. trading partners for 90 days – except with China, which was affected by a 125% increase in tariffs.
Trump's new import tariffs on the EU came into effect on April 9. Against this background, key European stock indices started the day with a significant fall.
The escalating trade war between the US, China and the EU is causing stock market prices in Europe to fall massively. The Euro-Stoxx-50 loses almost three percent.
The Paris Stock Exchange falls heavily this Wednesday, 9 April, in the wake of other European places, after the announcement of US surtaxes targeting 60 countries. The CAC 40 loses 2.72%. The values of luxury deviate, very exposed to the Chinese market, with the exception of Hermes who resists.
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