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European stock markets close with collective declines
European stock markets closed sharply lower on Tuesday, March 4, as investors braced for the global impact of new US tariffs on Mexico, Canada and China, as well as retaliatory measures in response to those tariffs.
The pan-European Stoxx 600 index fell 12.06 points, or 2.14%, to 551.07 points at the end of trading, recording its biggest daily decline since August last year.
The German DAX index closed the session down 820.21 points, or 3.54%, to 22,326.81 points.
The British FTSE 100 index fell 112.31 points, or 1.27%, at the close to 8,759 points.
The French CAC 40 index fell 151.79 points, or 1.85%, at the close to 8,047.92 points.
Stoxx 600 auto stocks — one of the sectors expected to be hit hard by the new U.S. tariffs — fell 5.7%.
Diesel maker Stellantis, which closed down 10%, and Mercedes Benz, down 5%.
French defense company Thales jumped as much as 12% in early trade after reporting higher full-year 2024 revenue and profit, but later pared gains to close 2.5% higher.
