Capitals - Saba:
European stock markets experienced a sharp downturn on Monday, marking their fourth consecutive day of losses. This decline mirrored a broader sell-off in global stock markets that began last week following the announcement of new tariffs by US President Donald Trump.
The pan-European Stoxx 600 index closed down significantly, falling 22.51 points, or 4.54%, to reach 473.82. Earlier in the trading session, the index had seen even steeper losses, dropping by as much as 6% before recovering slightly by the close.
Major national indices also recorded substantial losses:
The German DAX index ended the day down 879.83 points, or 4.26%, closing at 19,761.89.
The British FTSE 100 index fell by 352.90 points, or 4.38%, to close at 7,702.08.
The French CAC 40 index saw a decline of 347.83 points, or 4.78%, closing at 6,927.12.
Global markets saw a brief period of volatility in the afternoon, showing a temporary upward movement due to unsubstantiated media reports and social media speculation about a potential suspension of tariffs. However, White House spokeswoman Carolyn Levitt refuted these claims, stating to CNBC that any suggestion of a 90-day tariff suspension was "fake news."
Uncertainty intensified further towards the end of European trading hours when President Trump threatened to increase tariffs on China by an additional 50% if the country did not remove its retaliatory tariffs.
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