European stocks keep losses as investors shocked by tariffs

European markets continued to decline at the start of trading on Friday, as investors continued to be shocked by the size of the tariffs announced by the US this week.

The pan-European STOXX 600 index fell 1.1% at the opening, while the banking sector fell 3.4%, following a sharp 5.53% decline on Thursday.

The German DAX index fell 0.78% to 21,548.46 points, the British FTSE 100 index fell 0.53% to 8,430.70 points, and the French CAC 40 index fell 0.70% to 7,545.54 points.

The STOXX 600 index closed down 2.57% on Thursday, as global markets continued to absorb the impact of US President Donald Trump’s tariffs on more than 180 countries, raising concerns about an escalating global trade war.