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European Shares Tumble On Tariff Jitters
(RTTNews) - European stocks fell sharply on Thursday as investors fretted about the potential repercussions of the new tariffs announced by U.S. President Donald Trump.
There is apprehension that the new levies could fuel inflationary pressures, cause disruptions in global supply chains and lead to trade wars.
In economic releases, HCOB's final composite Purchasing Managers' Index for the euro zone, compiled by S&P Global, rose to 50.9 in March from 50.2 the previous month.
The U.K. Services Purchasing Managers' Index (PMI) rose to its highest since August 2024 at 52.5 from 51.0 in February.
The pan European STOXX 600 was down 1.3 percent at 529.97 after falling half a percent in the previous session.
The German DAX tumbled 1.4 percent, France's CAC 40 plummeted 1.8 percent and the U.K.'s FTSE 100 lost 1 percent.
Banks led losses, with BNP Paribas, Commerzbank and Deutsche Bank falling 3-5 percent.
Automakers pared steep early losses to trade on a flat note.
Healthcare stocks clung to marginal gains as the Trump administration exempted pharmaceuticals from reciprocal tariffs.
German sportswear retailer Adidas plunged more than 10 percent and shipping giant Maersk tumbled 7 percent.
China-linked luxury goods makers faced selling pressure in Paris, with LVMH down nearly 4 percent.
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