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%.
Russian Foreign Minister Sergei Lavrov landed in North Korea, marking another step in the growing strategic partnership between Moscow and Pyongyang....
In a show of diplomatic unity, Italian and French foreign ministers met in Rome to address global crises, calling for urgent ceasefires and coordinate...
President Donald Trump toured flood-hit areas in Texas and expanded federal disaster assistance to eight more counties....
Washington and Ottawa are once again at odds, as President Trump unveils a sharp new tariff on Canadian goods—citing drug trafficking and trade disp...
France recorded over 100 drowning deaths in just one month — a 58% rise from last year — as unusually high temperatures drove more people to water...
Russian Foreign Minister Sergei Lavrov landed in North Korea, marking another step in the growing strategic partnership between Moscow and Pyongyang.
In a show of diplomatic unity, Italian and French foreign ministers met in Rome to address global crises, calling for urgent ceasefires and coordinated support on Ukraine, Gaza, and Iran.
President Donald Trump toured flood-hit areas in Texas and expanded federal disaster assistance to eight more counties.
Washington and Ottawa are once again at odds, as President Trump unveils a sharp new tariff on Canadian goods—citing drug trafficking and trade disputes just weeks ahead of a key deadline.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
A deadly mass shooting early on Monday (7 July) in Philadelphia's Grays Ferry neighbourhood left three men dead and nine others wounded, including teenagers, as more than 100 shots were fired.
Dozens of international and domestic flights were cancelled or delayed after Mount Lewotobi Laki Laki erupted on Monday, but Bali’s main airport remains operational.
The 17th Summit of the Economic Cooperation Organization (ECO) was successfully held in Khankendi, Azerbaijan, highlighting the region’s revival and the deepening economic cooperation among member states.
French member of parliament Olivier Marleix was found dead at his home on Monday, with suicide being considered a possible cause.
Turkmenistan has gathered 1.407 million tonnes of wheat, matching its 2025 goal after a round-the-clock harvest on 690,000 hectares that officials say was bolstered by new combines and higher state purchase prices.
Azerbaijan Railways CJSC signed a Memorandum of Understanding with the Chinese company 'Xi'an Free Trade Port Construction and Operation' and has opened its representative office and container terminal in the Xi'an International Port.
The UK and Japan have signed a Memorandum of Cooperation (MoC) aimed at enabling increased UK investment into Japan, further strengthening the economic ties between the two nations.
German inflation eased to 2.0% in June, the federal statistics office said on Thursday, confirming preliminary data.
Nvidia has made history as the first publicly traded company to surpass a $4 trillion market value, driven by an AI-fuelled investor boom.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment