US and EU Forge New Trade Path

In a landmark move, the United States and the European Union have announced a comprehensive trade agreement, setting the stage for a new era of economic cooperation. The deal, unveiled by US President Donald Trump and European Commission President Ursula von der Leyen, introduces a 15% tariff on most EU goods entering the US. Additionally, the EU has pledged to purchase $750 billion worth of energy from the US and to invest an extra $600 billion into the country.

Market Responds Positively

The announcement sent waves through the US stock markets, with major indices opening mostly higher. The Nasdaq 100 saw an uptick of 0.23%, buoyed by a 3.15% rise in ASML Holding shares by 9:30 am ET. Similarly, the S&P 500 climbed 0.13%, with Nike leading the charge, surging 4.21% at the same time. The Dow Jones, however, remained flat at the opening bell.

Euro Takes a Hit

The euro felt the immediate impact of the trade deal, depreciating by 0.88% against the dollar to $1.16381 by 9:29 am ET.