European Markets Open Lower Amid US Tariff Announcement

European markets faced a downward trend at the start of Monday's trading session, following the United States' decision to impose a 30% duty on the European Union. Investors are closely monitoring the situation, hoping for a resolution before the August 1 deadline.

Brussels Prepares Response as Tensions Rise

Brussels has signaled its readiness to retaliate if no compromise is reached, adding to the uncertainty in the markets. Meanwhile, Switzerland's latest data shows producer and import prices remained stable in June, offering a slight reprieve from the broader market tensions.

Market Performance Highlights

The DAX dropped by 0.98%, with Volkswagen leading the decline at 1.72%. The pan-European Euro Stoxx 50 and the CAC also saw decreases, with Hermes International experiencing a significant fall. The FTSE remained flat, while the euro and pound weakened against the dollar.