European markets are expected to open in negative territory Tuesday amid uncertainty over the scope and breadth of U.S. President Donald Trump’s trade tariffs.
The U.K.’s FTSE 100 index is expected to open 23 points lower at 8,617, Germany’s DAX down 50 points at 22,804, France’s CAC 11 points lower at 8,009 and Italy’s FTSE MIB 78 points lower at 38,207, according to data from IG.
Earnings come from Kingfisher and Smiths Group. On the data front, Germany’s Ifo Institute releases its latest business climate survey.
Asia-Pacific markets traded mixed overnight as investors assessed Trump’s tariff threats while U.S. futures edged down marginally after the three key Wall Street indexes logged gains on Monday.
Wall Street remains on edge over a potential uptick in inflation and slowing economic growth as it awaits reciprocal tariffs from the Trump administration on April 2.
However, during Monday’s session, traders grew optimistic on news that the White House may narrow the scope of tariffs going into effect, according to reports from The Wall Street Journal and Bloomberg News.
Later Monday, Trump told the press that he “may give a lot of countries breaks” on reciprocal tariffs. He added that duties on certain sectors, such as pharmaceuticals and autos, would still be coming in the “near future.”
— CNBC’s Hakyung Kim contributed to this market report.
