European stock markets experienced significant downturns as investors reacted to President Donald Trump's tariff threats against the EU and Mexico. Major indices, including the DAX and CAC 40, reported losses ranging from 0.7 to 0.9 percent. The STOXX 600 index saw a dip of around 0.5 percent. Meanwhile, US futures fell more than 0.5 percent ahead of a looming trade deadline. EU officials are considering retaliatory tariffs worth 100 billion euros if trade agreements are not finalized by the set date.
Major European indices suffered heavy losses as EU ministers were set to discuss their response to Trump's plans to impose a 30 percent tariff on the bloc's goods.
Germany's benchmark DAX had fallen nearly 0.9 percent, while France's CAC 40, Italy's FTSE MIB and Spain's IBEX 35 were down 0.7 to 0.8 percent.
US futures fell early on Monday, with those tied to the S&P 500 and Nasdaq Composite indices both dropping more than 0.5 percent.
EU officials have threatened to impose retaliatory tariffs on US goods worth approximately 100 billion euros if no trade agreements are reached.
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