EU markets trade lower following Trump's announcement
- 8 months ago
Following the bombshell dropped by U.S. President Donald Trump regarding the ongoing trade war with China the EU markets have had a bad start to the week.
Trump announced he will raise tariffs on Chinese goods from 10% to 25% in a surprising turn of events just when most analysts thought a breakthrough was imminent between Washington and Beijing.
London based FTSE 100 was closed for a holiday, however pressure was felt by Europe stocks, with the Stoxx 600 index dropping 1.4% to 385.02, after losing 0.2% last week.
Germany’s DAX slid 1.8% to 12,192.45, while France’s CAC 40 fell 1.9% to 5,445.68.
Italy’s FTSE MIB also retreated 1.9% to 21,352.74 as the EUR/USD pair was modestly lower at $1.1190 versus $1.1202 late Friday in New York.
Source: Smart Trend Team