European shares dropped on Friday after President Donald Trump intensified tariff threats against the EU, casting doubt on trade talks and dampening investor confidence.
The pan-European STOXX 600 index fell 0.7% to 548.98 points by mid-morning but remained on course for a weekly gain. Germany’s DAX declined 0.9%, France’s CAC 40 lost 0.8%, Spain’s IBEX dropped 0.6%, and the UK’s FTSE slipped 0.3% after briefly hitting a record high.
The drop followed Trump’s announcement of a 35% tariff on Canadian imports from 1 August, alongside warnings of a 15–20% tariff hike for other countries, including the EU. He also suggested a formal notice on EU tariffs could arrive by Friday, shaking hopes of a constructive deal.
"The recent DAX rally was built on expectations of better trade ties with the U.S., but this development challenges that optimism," said Jochen Stanzl of CMC Markets.
European banks led losses, with the banking index down 1.3%. Norway’s DNB fell 7.8% after disappointing earnings, while energy stocks gained 0.4% as BP reported strong Q2 output. Gjensidige rose 5.8% and Storebrand climbed 3.5% after strong earnings.
ECB’s Isabel Schnabel, meanwhile, noted that another rate cut is unlikely in the near term, citing resilient euro zone growth and stable inflation at 2%.
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Countries including Britain, Canada, Germany and others on Wednesday condemned the Israeli security cabinet's approval of 19 new settlements in the occupied West Bank, saying they violated international law and risked fuelling instability.
A majority of Russians expect the war in Ukraine to end in 2026, state pollster VTsIOM said on Wednesday, in a sign that the Kremlin could be testing public reaction to a possible peace settlement as diplomatic efforts to end the conflict intensify.
Georgia's Parliament Speaker Shalva Papuashvili has accused Brussels of using visa policy as a political weapon rather than a technical instrument.
The White House has instructed U.S. military forces to concentrate largely on enforcing a “quarantine” on Venezuelan oil exports for at least the next two months, a U.S. official told Reuters, signalling that Washington is prioritising economic pressure over direct military action against Caracas.
Thailand and Cambodia both reported fresh clashes on Wednesday, as the two sides prepared to hold military talks aimed at easing tensions along their shared border.
Libya’s chief of staff, Mohammed Ali Ahmed Al-Haddad, has died in a plane crash shortly after departing Türkiye’s capital, Ankara, the prime minister of Libya’s UN-recognised government has said.
The U.S. State Department has authorised a potential Foreign Military Sale of Advanced Medium Range Air‑to‑Air Missiles (AMRAAM) to Denmark, aimed at bolstering the Scandinavian nation’s air defence capabilities, the Pentagon’s Defence Security Cooperation Agency said on Monday.
Afghanistan and Iran have signed an implementation plan to strengthen regulation of food, medicine, and health products based on a 2023 cooperation agreement.
Negotiations conducted with the United States and European nations, aimed at ending the nearly four-year war with Russia, were "very close to a real result," Ukrainian President Volodymyr Zelenskyy said on Monday.
China has given the nod for car makers to sell Level 3 self-driving vehicles from as early as next year after it approved two electric sedans from Changan Auto and BAIC Motors.
Warner Bros Discovery’s board rejected Paramount Skydance’s $108.4 billion hostile bid on Wednesday (17 December), citing insufficient financing guarantees.
Ford Motor Company said on Monday it will take a $19.5 billion writedown and scrap several electric vehicle (EV) models, marking a major retreat from its battery-powered ambitions amid declining EV demand and changes under the Trump administration.
Iran has rolled out changes to how fuel is priced at the pump. The move is aimed at managing demand without triggering public anger.
U.S. stock markets closed lower at the end of the week, as investors continued to rotate out of technology shares, putting pressure on major indices.
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