Market Reaction to US Tariff Announcements

Investors in Europe faced a sharp downturn as news of impending US tariffs on the European Union sparked widespread market jitters. This development capped off a week marked by aggressive trade maneuvers, leaving markets on edge.

Economic Indicators Add to the Gloom

The economic outlook darkened further with the release of disappointing data from the UK. Industrial production saw a 0.9% decline in May, alongside a 0.1% contraction in GDP for the same period, signaling potential trouble ahead for the UK economy.

Stock Market Performance Across Europe

By the close of trading, major indices across Europe reflected the day's negative sentiment. Germany's DAX fell by 0.88%, with Siemens Healthineers experiencing a significant drop. The Euro Stoxx 50 and France's CAC 40 also saw declines, while the UK's FTSE 100 ended the day lower, with JD Sports Fashion among the hardest hit.

Currency Movements

Amid the turmoil, the euro held steady against the dollar, while the pound sterling weakened, underscoring the day's mixed financial landscape.