European markets seen lower amid ongoing trade war fears

By Yomna Yasser On Mar 26, 2018

European markets are set to open lower on Monday morning as lingering fears of a global trade war continued to spook investors.

The FTSE 100 is seen 24 points lower at 6,902; while the CAC 40 is set to open down 19 points at 5,084 and the DAX is expected to start 31 points lower at 11,868, according to IG.

In Asia, equities extended a recent run of losses with yet another move lower on Monday. Chinese shares were down more than 1.6 percent while MSCI’s broadest index of Asia-Pacific shares, excluding Japan, also edged into negative territory.

Stateside, President Donald Trump signed a memorandum on Friday that could see charges implemented on up to $60 billion of imports from Beijing, though the measures have a 30-day consultation period before they take effect.

The tariffs follow additional duties on steel and aluminum imports on a number of countries worldwide, including China, with the world’s second-largest economy hitting back with its own plans to impose charges on up to $3 billion of U.S. imports.

Back in Europe, International Monetary Fund (IMF) Managing Director Christine Lagarde is poised to deliver a speech on the future of the single currency at around 9 a.m. London time. Source: CNBC