The Euro STOXX 50 closed 4.7% lower on Monday evening — its worst session since early March 2022 (-4.9%). It comes as US President Donald Trump reiterated his commitment to eliminating US trade deficits — particularly with China — while denying any intention to fuel market turmoil.
In the US, there was wild swings on Wall Street with major indices opening in the red on Monday afternoon with the tariff sell-off sending the S&P 500 into bear market territory.
It fell 3.2% at the session open, while the tech-heavy Nasdaq Composite declined 3.9%. The Dow Jones also opened lower, down 3.2%. There was a brief rise as stocks reverted to losses again.
Trump insisted he had not deliberately triggered the intense market sell-offs. Yet, he also demanded financial reparations from Europe: “We put a big tariff on Europe. They are coming to the table; they want to talk, but there’s no talk unless they pay us a lot of money on a yearly basis — not just for the present, but also for the past.”
Revisit the key updates of the day below.
