EU Fights Back with Counter Tariffs

In a bold response to the United States President Donald Trump's latest tariffs on steel and aluminum imports, the European Union has announced countermeasures worth €26 billion. This strategic move has significantly impacted the European stock markets, leading to notable gains across major indexes.

Stock Market Reaction

By midday CET, the DAX index had surged by an impressive 2.06%, or 460 points, showcasing the market's positive reception to the EU's countermeasures. Similarly, the CAC 40 and Euro Stoxx 50 also experienced substantial increases, rising by 1.60% and 1.72% respectively. The FTSE index wasn't left behind, marking a 0.60% increase.

Currency Movements

In currency markets, the euro saw a slight decline of 0.17% against the dollar, trading at $1.09008. Meanwhile, the pound sterling remained stable against the US currency, maintaining its position at $1.29465.