At 9:20 a.m. in Lisbon, the EuroStoxx 600 had fallen 1.38% to 529.49 points.
London, Paris, and Frankfurt stock markets were down 1.12%, 1.65%, and 1.71%, respectively, while Madrid and Milan depreciated by 1.04% and 1.65%.
The Lisbon stock exchange maintained its opening trend, with its main index, the PSI, rising 0.57% to 6,997.54 points by 9:20 a.m.
At the market’s opening, with the euro strengthening considerably against the dollar by 1.19%, trading at 1.096 units, the European stock market that fell the most was Milan, down by 2.84%, followed by Frankfurt at 2.77%, Paris at 2.14%, Madrid at 1.52%, and London at 1.34%.
New tariffs of 25% on cars, light trucks, and auto parts exported to the U.S. are now in effect, while the President of the European Commission, Ursula von der Leyen, has stated that Europe is “ready to respond” to the tariff imposition and is working on new measures.
In Asia, Tokyo’s main index, the Nikkei, fell by 2.77% following the tariff announcement by Trump. The Shanghai Stock Exchange’s benchmark index dropped 0.24%, Shenzhen’s slipped 1.4%, and the Hang Seng, nearing closing, fell nearly 2%. The Seoul Stock Exchange’s benchmark index, the Kospi, lost 0.76%.
In response to the tariff war, China has stated that “protectionism is a dead end.”
Trump announced a baseline tariff of 10% on all U.S. imports, which increases according to tariff and non-tariff measures. Tariffs of 25% on imported cars, light trucks, and auto parts have also come into effect.
Following the adoption of his tariff policy, many leaders of the affected countries have already threatened to retaliate, forecasting, barring common sense and negotiations, a widespread trade war, described by analysts from Link Securities as the “worst possible scenario” for global stock markets, as cited by Efe.
Wall Street futures are down about 3% in their main indexes, with the Dow Jones Industrials declining 2.35%, the S&P 500 falling 2.96%, and the Nasdaq dropping 3.34%, after concluding Wednesday with gains of 0.56%, 0.67%, and 0.87%, respectively.
In commodities, gold fell 0.38% to $3,122 per ounce.
Oil prices continue to decline sharply, with Brent, the European benchmark, falling 3.24% to $72.53 per barrel, while the US West Texas Intermediate (WTI) is also down 3.40% to $69.27 before the market officially opens.
Bitcoin is down 2.71% to $83,334.
