European Markets Open Monday with Losses
By 0840GMT Monday, the Stoxx Europe 600 benchmark had declined 0.7% to 609.9 points. The UK's FTSE 100 slipped 0.1% to 10,230 points, while Germany's DAX 40 fell 0.8% to 25,080 points. France's CAC 40 experienced the sharpest drop among major indices, plunging 1.2% to 8,162 points.
Southern European markets also posted losses, with Italy's FTSE MIB 30 sliding 1.1% to 45,300 points and Spain's IBEX 35 edging down 0.2% to 17,645 points.
The sell-off followed Saturday's announcement from Trump, who revealed plans to impose tariffs against eight European nations over their opposition to US acquisition of the Danish territory. Beginning Feb. 1, a 10% levy will apply to imports from Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands, and Finland. The president warned this rate would jump to 25% on June 1 without a negotiated agreement.
European leadership has condemned the ultimatum, promising unified retaliatory action against the proposed trade measures.
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