The European markets opened lower following the implementation of new tariffs by US President Donald Trump. The tariffs included a 104% import levy on Chinese goods, with US Customs and Border Protection preparing to collect tariffs from 86 countries. Despite showing openness to negotiations, Trump confirmed the planned tariffs on Chinese imports and signed an executive order increasing tariffs on low-value Chinese goods to 90%.

Trump mentioned making customized deals with certain nations, while noting that China had not responded since expressing its intention to fight the tariffs. European markets saw declines, with the Euro STOXX 50 falling by 2.40%, the STOXX 600 by 2.55%, and the CAC 40 in France by 2.6%. Germany's DAX dropped 2.1%, London’s FTSE 100 declined by 2%, Italy's FTSE MIB by 2.85%, and Spain's IBEX 35 by 2.64%.

Asian markets also experienced losses, with declines in Hong Kong's Hang Seng Index, Japan's Nikkei 225, Australia's ASX 200, and South Korea’s Kospi. China's Yuan weakened against the US dollar, reaching a level not seen since September 2023. South Korea announced a $2 billion emergency package to aid its carmakers due to the impact of the tariffs. India's Nifty 50 decreased by 0.55% following the Reserve Bank of India's rate cut, while New Zealand's stock market showed relative resilience after the Reserve Bank of New Zealand's decision to lower its official cash rate.