European Markets Fall After Trump's Greenland Tariffs Threat; Autos and Luxury Sell Off
European stocks were sharply lower on Monday as traders react to U.S. President Donald Trump's threat to hike tariffs on a number of European countries.
The Stoxx 600 index fell 1.4% to 444.35, while the FTSE 100 dropped 1.1% to 7,443.55. The CAC 40 in Paris declined 1.3% to 6,844.15.
The threat of tariffs on European autos and luxury goods weighed on the market, with shares of companies such as Volkswagen, BMW, and Daimler falling by 2-3%.
The European Union has been a key target of Trump's trade policies, and the threat of tariffs has sparked concerns about a trade war between the two economic powers.
The EU has vowed to retaliate against any tariffs imposed by the U.S., and the bloc's trade commissioner, Valdis Dombrovskis, has said that the EU is prepared to take action to protect its interests.
The threat of tariffs has also sparked concerns about the impact on the global economy, with many economists warning of a potential trade war that could have far-reaching consequences.
The European Central Bank has also weighed in on the issue, with President Christine Lagarde saying that the ECB is monitoring the situation closely and is prepared to take action if necessary.
The threat of tariffs has sparked a sell-off in European stocks, with many investors taking a cautious approach to the market.
The Stoxx 600 index has fallen 2.5% over the past week, while the FTSE 100 has declined 2.1%.
The CAC 40 has fallen 2.3% over the past week.
The threat of tariffs has also sparked concerns about the impact on the European economy, with many economists warning of a potential recession.
The European Commission has estimated that a trade war between the U.S. and the EU could cost the bloc's economy up to 1% of GDP.
The threat of tariffs has also sparked concerns about the impact on European companies, with many investors warning of a potential sell-off in the market.
The European Union has been a key target of Trump's trade policies, and the threat of tariffs has sparked concerns about a trade war between the two economic powers.
The EU has vowed to retaliate against any tariffs imposed by the U.S., and the bloc's trade commissioner, Valdis Dombrovskis, has said that the EU is prepared to take action to protect its interests.
The threat of tariffs has also sparked concerns about the impact on the global economy, with many economists warning of a potential trade war that could have far-reaching consequences.
The European Central Bank has also weighed in on the issue, with President Christine Lagarde saying that the ECB is monitoring the situation closely and is prepared to take action if necessary.
The threat of tariffs has sparked a sell-off in European stocks, with many investors taking a cautious approach to the market.
The Stoxx 600 index has fallen 2.5% over the past week, while the FTSE 100 has declined 2.1%.
The CAC 40 has fallen 2.3% over the past week.
The threat of tariffs has also sparked concerns about the impact on the European economy, with many economists warning of a potential recession.
The European Commission has estimated that a trade war between the U.S. and the EU could cost the bloc's economy up to 1% of GDP.
Sources
[1] European markets fall after Trump's Greenland tariffs threat; autos and luxury sell off
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