European stock markets sank on Friday, losing momentum as conflicting signals from President Trump on tariffs left investors feeling uneasy.
The pan-European Stoxx 600 index shed 1 per cent and looked set to halt its run of ten consecutive weekly gains. In London, the FTSE 100 slipped 0.4 per cent and is now down 1.7 per cent over the week, while Germany’s DAX fell 1.5 per cent.
Jamie Constable, market strategist at Singer Capital Markets, observed: “The uncertainty is coming from the White House as trade and other policy flips and flops on a daily basis.”
Trump’s latest about-turns involved granting a last-minute reprieve on tariffs targeting goods from Mexico and Canada, extending exemptions for a further month. On Wednesday, he had already postponed new levies on Mexican and Canadian car imports — changes that unnerved investors and prompted warnings from Republican politicians over potential economic fallout.
On Wall Street, the Nasdaq Composite slid 2.6 per cent and is now in correction territory, having dropped more than 10 per cent from its December peak. Asian markets followed suit, with Japan’s Nikkei 225 losing 2.17 per cent, reaching a six-month low, and Hong Kong’s Hang Seng falling 0.57 per cent.
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