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European stocks hit 16-month low as China responds to Trump’s tariffs
European stock markets took a severe hit at the beginning of trading on Monday, with Frankfurt witnessing a drop of up to 10 percent as a global sell-off worsened following U.S. President Donald Trump's tariffs. The indices fell sharply, with Paris losing over six percent, London nearly six percent, Amsterdam and Oslo down more than five percent, and Milan dropping more than three percent.
Earlier, Asian markets faced a disastrous day as China retaliated against the U.S. with its own tariffs, escalating a trade conflict that many fear could trigger a recession. Investors flooded the markets with sell orders, causing significant losses. Hong Kong’s stock market saw a 12 percent drop, the worst in more than 16 years, while Taipei fell over nine percent, and Tokyo’s market dropped by more than seven percent.
U.S. stock futures were also heavily affected, and concerns about demand pressures led to a decline in commodity prices as well. The market chaos began last week when President Trump announced extensive tariffs against U.S. trading partners, accusing them of unfair trade practices and claiming that other governments were eager to negotiate favorable deals with Washington.
