European stocks slid on Wednesday after sweeping US tariffs took effect, fuelling concerns over a slowdown in global trade and economic growth.
The pan-European STOXX 600 index fell 2.67 per cent by 08:25 GMT, with broad-based losses across major markets. Germany’s DAX dropped 2.70 per cent, France’s CAC 40 lost 2.71 per cent, Spain’s IBEX 35 shed 2.46 per cent, and the UK’s FTSE 100 declined 2.69 per cent.
Healthcare and pharmaceutical stocks were hit hard. Sanofi SA slumped 5.08 per cent, Fresenius SE lost 4 per cent, and Hikma Pharmaceuticals dropped 3.49 per cent.
Technology shares also declined, with Rheinmetall AG down 4.35 per cent and Infineon Technologies off 3.36 per cent. In the energy sector, Siemens Energy fell 4.04 per cent, TotalEnergies dropped 3 per cent, Eni slid 4.93 per cent, and BP retreated 4.29 per cent.
Investors grew increasingly risk-averse as Washington’s aggressive trade stance cast doubt over the global economic outlook, prompting a broad sell-off across sectors.
Attribution: Amwal Al Ghad English, Investing.com
Subediting: M. S. Salama