European Markets React to US Tariff Announcement

Following the announcement by United States President Donald Trump of a 30% tariff on the European Union's exports, major European stock markets experienced a downturn on Monday. The European Union has signaled its intention to retaliate with €72 billion in counter-measures, should negotiations fail to reach a resolution.

Market Performance Highlights

The DAX and CAC 40 saw declines of 0.32% and 0.24% respectively, with Teleperformance SE notably dropping by 2.17%. Conversely, the FTSE 100 bucked the trend with a 0.64% increase, buoyed by a 2.20% rise in Associated British Foods PLC shares.

Currency Movements

At 5:28 pm CET, the euro remained steady against the dollar at $1.16833, while the pound sterling weakened by 0.39% to $1.34481.

Stay tuned for further updates on this developing story.