European Markets React to U.S. Tariff Announcements

Major European stock exchanges experienced significant declines at Friday's close, with most indexes falling over 2%. This downturn was largely attributed to recent tariff announcements from the United States, which have sparked global market turmoil. Investors are increasingly worried about the economic outlook, as uncertainty continues to grow.

Key Indexes and Companies Affected

The DAX saw a sharp drop of 2.66%, with Daimler Truck leading the losses by plummeting 8.71%. Similarly, the Euro Stoxx 50 decreased by 2.87%, and Compagnie de Saint-Gobain faced a significant fall of 9.29%. The CAC 40 wasn't spared, nosediving 2.91%, as Teleperformance shed an alarming 20.65%. Meanwhile, the FTSE 100 experienced a more modest loss of 0.70%, with Intertek down by 6.68%.

Currency Movements

In currency markets, the euro surged 1.13% against the dollar, trading at 1.15455 by 5:33 pm CET. The pound also saw gains, trading 0.35% higher against the dollar at 1.32524.