European stock markets dip in response to US tariffs
European stock markets reacted negatively on Thursday to US president Donald Trump's announcement of sweeping tariffs on goods imported into the US.
The Paris stock exchange lost 3.31 per cent, its biggest one-day fall since 15 March 2023. Frankfurt closed down 3.01 per cent. The Milan stock exchange was also hit hard with a loss of 3.60 per cent.
Amsterdam limited its loss to 2.67 per cent. The losses of the Brussels stock exchange were also limited, with the Bel20 index falling by 1.13 percent.
The heaviest losses in Brussels were suffered by metals group Umicore and chip designer Melexis, which fell 7.48 and 5.96 percent respectively. Both companies have links to the automotive sector, which has been heavily targeted by the US president.
The New York stock exchange also suffered losses on Thursday. By 19:00 Brussels time, the Dow Jones was down 3.06 per cent, the Nasdaq index had plunged 4.94 per cent and the broader S&P index was down 3.81 per cent, its lowest level since September.
US president Donald Trump on a television screen below a display showing the German stock index DAX at the stock exchange in Frankfurt, Germany, 3 April 2025 © PHOTO DANIEL ROLAND / AFP
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