European stock indices close with sharp losses amid fears of Trump's impact

European stock indices witnessed significant losses during trading on Tuesday, with most indices on the continent closing sharply lower amid growing concerns among investors regarding the potential impact of Trump's policies and the possible repercussions of the tariffs he has vowed to impose on companies in Europe.

Additionally, the gloomy data released today further deepened the losses of European stock indices, after data from the German ZEW Economic Institute showed a significant decline in confidence indicators for the German economy and the Eurozone, at a time when the continent's economy is suffering from a clear slowdown, while the German economy is experiencing a recession amid ongoing economic pressures due to the European Central Bank's tight monetary policy.

Regarding trading performance, the European stock indices at the close of trading today were as follows:

• The EURO STOXX 400 index fell by about 1.98% at the close, ending the session at 502.23 points.
• The German DAX index dropped by approximately 2.13%, registering 19,033.64 points.
• The French CAC 40 index declined by 2.69%, closing at 7,226.98 points.
• The British FTSE 100 index decreased by 1.22%, recording 8,025.77 points.
• The Spanish IBEX index fell by 1.85%, closing at 11,382.60 points.
• The Italian FTSE MIB index dropped by around 2.15%, registering 33,607.14 points.

This occurred while most sectors and major exchanges in the region were trading in the red, with mining stocks leading the losses by about 4%, while technology stocks defied the trend, closing with a slight increase of 0.04% at the end of the trading session in London.

Additionally, the EUR/USD pair is under downward pressure, dropping by about 0.6% to trade below the 1.0600 dollar level, reaching a new low for 2024 at 1.05947 dollars, after the previous low was 1.0601 dollars. The pair declined by -0.54%, while the British pound also fell against the dollar by approximately 1.10%, registering 1.27188 dollars.