European stocks plunge at the open as Trump’s reciprocal tariffs take effect

Stock markets plunge yet again as Trump tariff battle with China heats up

In Toronto, the TSX Composite Index had tumbled 2.4 per cent shortly after the market open.

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.

Milan bourse closes 2.75% down

The Milan bourse closed 2.75% down amid fresh Trump tariff strife Wednesday with the bellwether FTSE-Mib index falling to 32,730 points. This followed a 2. (ANSA)

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.