At 2:50 PM Lisbon time, the Dow Jones index rose by 2.83% to 39,036.77 points while the tech-heavy Nasdaq advanced 3.25% to 16,122.65 points.
The broader S&P 500 index stood at 5,208.14 points, an increase of 2.97%.
On Monday, the New York Stock Exchange closed with mixed results, with the Dow Jones losing 0.91%.
The European Union (EU) anticipates presenting its response to the 20% tariffs imposed by the United States of America (USA) “at the beginning of next week,” the European Commission announced today.
“My expectation is that it will be at the beginning of next week,” said the European Commission’s spokesperson for Economic Security and Trade, Olof Gill, during a press conference in Brussels.
Ursula von der Leyen’s administration is consulting with member states to finalize the list of tariffs to apply in reciprocity, following Washington’s announcement of 20% penalties on the EU.
Also today, the Vice President of the European Central Bank (ECB), Luis de Guindos, stated that Europe is at a crossroads and should respond to the US tariffs in a “logical, prudent, and sensible” manner to avoid an escalation in the trade conflict.
Despite the current uncertainty and the sharp market downturns, De Guindos, speaking at the assembly of the Spanish Banking Association (AEB), remained optimistic and argued that this serves as a wake-up call for Europe to become “more autonomous and independent” in energy, defense, and economic sectors.
