European markets touch lowest level in last few months on tariff frenzy
Seeking Alpha News (Thu, 03-Apr 4:18 AM)
London (UKX) -1.29% to 8,497, touching its lowest level in about three weeks.
Germany (DAX:IND) -1.79% to 21,990, hitting its lowest level in nearly two months. Germany's composite PMI rises, services ease in March.
France (CAC:IND) -2.03% to 7,699. French services sector ends Q1 in contraction.
Spain's service sector slows in March, missing estimates.
The pan-European Stoxx 600 (STOXX) edged 1.50% lower to 528.85, amid a global stock sell-off following President Trump’s latest tariff announcement. The levies sparked a flight-to-safety move among traders, and major bourses traded in red. European Commission President Ursula von der Leyen described Trump's universal tariffs as a 'major blow to the world economy' and said that the EU is preparing countermeasures in response to the latest levies.
Coming up in the session: Service PMI indicator for UK in queue.
In the bond market, the U.S. 10-year Treasury yield was down 11 basis points to 4.08%.
Germany's 10-year yield was down 6 basis points to 2.66%.
UK's 10-year yield was down 8 basis points to 4.57%.
Currencies: (EUR:USD) (GBP:USD) (CHF:USD)
ETFs: (NYSEARCA:EWG), (NYSE:GF), (NYSEARCA:EWI), (NYSEARCA:EWQ), (NASDAQ:FGM), (NASDAQ:DAX), (NYSEARCA:FLGR), (NYSEARCA:FXB), (NYSEARCA:EWU), (NASDAQ:FKU), (BATS:EWUS), (NYSEARCA:FLGB), (NYSEARCA:GREK).
