European markets closed mostly lower on Tuesday, as weakness in defense, technology, and chemicals sectors weighed on sentiment. The retreat was compounded by earnings misses.
Markets remain jittery amid escalating trade tensions following US President Donald Trump's confirmation of a 30% tariff on EU goods, effective August 1. The European Union is reportedly preparing to respond with its Anti-Coercion Instrument, which could potentially further inflame trade relations.
At the close, the DAX declined by 1.05%, with Sartorius AG falling 4.79%. The European Stoxx 50 dropped 1.01%, led by Infineon, which lost 3.65%. The CAC 40 decreased by 0.69%, with Safran down 2.68%. In contrast, the London FTSE 100 rose slightly by 0.13%, driven by a 5.33% increase in Compass.
The euro traded 0.34% higher against the dollar at 5:28 pm CET to go for 1.17340, while the pound gained 0.10% against the greenback to sell for 1.35073 concurrently.
