3 April | DAX

European markets drop as US announces new import tariffs

European markets drop as US announces new import tariffs

European markets closed lower on Wednesday as traders braced for news about potential fresh US trade tariffs. Germany's DAX index fell 1.6%, dragged down by declines in construction, pharmaceutical, and healthcare stocks, according to CNBC

European stock markets extended their losses Thursday morning following US President Donald Trump’s stronger-than-expected trade tariffs announcements targeting dozens of trading partners, the agency reports.

The US leader’s announcement triggered selloffs in major European supply chain-reliant firms, including Adidas (-10.4%) and Maersk (-7.2%), along with the automotive sector, the agency notes.

The selloff also hit banking stocks, which dropped 2.8%. Meanwhile, shares in EU utilities—traditionally a defensive play during market turbulence—gained 1.9%, CNBC says.

European Commission President Ursula von der Leyen swiftly responded to the tariff announcement, stating that EU authorities are preparing countermeasures should negotiations with the US prove unsuccessful.

Anton Volkov MarketCheese
Period: 06.06.2025 Expectation: 2500 pips
USDJPY soars amid blocking of Trump’s trade duties in court
Today at 09:01 AM 1
Period: 06.06.2025 Expectation: 300 pips
Buying Brent crude up to $68 per barrel
Today at 08:35 AM 2
Period: 04.06.2025 Expectation: 1000 pips
NVIDIA stocks rise amid expectations for release of results for Q1 of 2025
Yesterday at 11:06 AM 52
Elizabeth_Kuzmicheva
Elizabeth_Kuzmicheva

Listed among the best MarketCheese authors
1st in the segments "Metals" and "Oil and gas"
Period: 06.06.2025 Expectation: 2000 pips
USDCAD rebound from 1.37 will be short-lived
Yesterday at 09:54 AM 47
Period: 29.05.2025 Expectation: 700 pips
EURUSD depreciates amid US dollar recovery
Yesterday at 07:30 AM 39
Period: 28.05.2025 Expectation: 1200 pips
Tesla's stocks will rise to $346
27 May 2025 70
Go to forecasts