European stock futures traded sharply lower on Thursday, reacting to US President Donald Trump's sweeping US tariff policy.
The new "reciprocal tariffs" include a 10% baseline on all US imports and a 20% rate for goods from the European Union. Economists at ING warned the announcement marks "Europe's worst economic nightmare," potentially shaving 0.3% off euro zone growth over two years.
At 8:02 am CET, the FTSE 100 dropped 1.66%, Germany's DAX fell 431 points or 1.92%, France's CAC 40 declined 1.09% points, and the Euro Stoxx 50 lost 2.26%.
In currency markets, at 7:57 am CET, the euro was up by 0.86% against the dollar, selling for $1.09469. The pound grew by 0.67% to go for $1.30939 simultaneously.
