European shares slide as US tariffs hit market sentiment

European shares fell sharply on Thursday as investors reacted to US tariffs on EU exports, raising concerns over economic growth and corporate earnings.

The pan-European STOXX 600 dropped 2.65 per cent as of 6:33 AM ET (10:33 AM GMT), with Germany’s DAX down 2.15 per cent, France’s CAC 40 losing 2.52 per cent, Spain’s IBEX 35 slipping 1.05 per cent, and the UK’s FTSE 100 declining 1.53 per cent.

Financial and consumer goods stocks bore the brunt of the sell-off. UBS fell 4.4 per cent, Standard Chartered lost 7.9 per cent, and Commerzbank dropped 6.7 per cent on fears that slower growth could pressure interest rates and bank profits.

Consumer brands also suffered, with Adidas plunging 9.1 per cent, LVMH down 3.4 per cent, and Pandora shedding 11.3 per cent after Washington imposed a 20 per cent tariff on EU exports. The US remains the EU’s largest export market.

Attribution: Investing.com, Amwal Al Ghad English, The Financial Times