European stocks went down on Wednesday due to new tariffs from the United States. The Stoxx 600 index dropped by 3.08% in London, with all sectors and major markets losing value. Healthcare, mining, and oil and gas stocks suffered the most, falling by 4.5%, 3.3%, and 4.2% respectively.
Major European indexes like the CAC 40 in France, the DAX in Germany, and the FTSE 100 in the UK also saw significant losses. European markets had a positive day on Tuesday after a few tough days, but worries about new tariffs caused a decline.
President Trump announced more tariffs on pharmaceuticals and increased tariffs on packages from China. Many countries are also imposing tariffs in retaliation. This situation has caused uncertainty in the markets, with U.S. stock futures and Asia-Pacific markets also falling. Investors are preparing for a potentially volatile day on Wall Street.
Vocabulary List:
- Tariffs /ˈtær.ɪf/ (noun): Taxes imposed by a government on imported goods.
- Indexes /ˈɪn.dɛks/ (noun): List or catalog of items often used to measure performance of stock markets.
- Significant /sɪɡˈnɪf.ɪ.kənt/ (adjective): Having an important meaning or influence.
- Retaliation /rɪˌtæl.iˈeɪ.ʃən/ (noun): The act of returning an injury or wrong typically in a punitive manner.
- Uncertainty /ʌnˈsɜːr.tən.ti/ (noun): The state of being unsure or having doubt about something.
- Volatile /ˈvɒl.ə.tɪl/ (adjective): Liable to change rapidly and unpredictably especially for the worse.
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