European markets set to plummet amid Trump tariff threat

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European markets are expected to unfastened sharply little Monday aft U.S. President Donald Trump imposed commercialized tariffs connected respective countries and threatened to bash the aforesaid with the European Union and U.K.

The U.K.'s FTSE 100 scale is expected to unfastened 116 points little astatine 8,563, Germany's DAX down 498 points astatine 21,217, France's CAC down 166 points astatine 7,772 and Italy's FTSE MIB down 901 points astatine 35,708, according to information from IG.

European markets are acceptable to respond negatively to President Trump's determination astatine the play to slap 25% tariffs connected imports from Mexico and Canada and a 10% levy connected goods from China. The tariffs are acceptable to travel into effect Tuesday. The U.S. does astir $1.6 trillion successful concern with the 3 countries.

Canada has retaliated with its ain sanctions connected U.S. imports and Mexico has threatened to bash the same.

When asked connected Sunday astir the imaginable of tariffs connected goods from the U.K. and European Union, Trump told the BBC that both were "out of line" but that the EU was worse. He said a woody could beryllium "worked out" with the U.K., a state with whom the U.S. has a much balanced commercialized relationship.

Trump described the U.S. commercialized shortage with the EU arsenic an "atrocity," repeating his erstwhile comments that the bloc had "really taken advantage" of the United States. Officials from the EU signaled antecedently that the bloc could respond to immoderate aboriginal U.S. tariffs "in a proportionate way."

Asia-Pacific markets traded little overnight aft Trump's tariff move, portion U.S. banal futures tumbled Sunday night arsenic investors weighed caller U.S. tariffs and their imaginable interaction connected the system and firm profits.

Earnings successful Europe travel from Julius Baer connected Monday, portion information releases see the latest euro portion ostentation data.

Julius Baer nett net jumped 125% successful 2024

A pedestrian sheltering nether an umbrella passes a Julius Baer Group Ltd. subdivision successful Zurich, Switzerland, connected Tuesday, July 13, 2021.

Stefan Wermuth | Bloomberg | Getty Images

Swiss wealthiness manager Julius Baer connected Monday reported full-year nett net of 1.02 cardinal Swiss francs ($1.12 billion) — a year-on-year summation of 125%.

A twelvemonth earlier, the slope reported a nett net of 454 cardinal Swiss francs. Its vulnerability to existent property radical Signa Holding led to a nett recognition nonaccomplishment of 606 cardinal Swiss francs successful 2023, which led to the resignation of then-CEO Philipp Rickenbacher.

The institution said connected Monday that its assets nether absorption deed a grounds precocious past year, rising 16% twelvemonth connected twelvemonth to 497 cardinal Swiss francs. It attributed the emergence to caller nett money, rising banal markets and a weaker Swiss franc.

Earnings per stock came successful astatine 4.98 Swiss francs.

— Chloe Taylor

Bitcoin falls, golden rises successful risk-off determination aft U.S. tariffs

Traders appeared to hunt for information successful aboriginal Sunday nighttime trading aft the U.S. deed cardinal commercialized partners with hefty tariffs connected goods.

Bitcoin dipped backmost beneath $100,000, losing 3.6% to commercialized astatine $97,554.24. Gold, a accepted safe-haven asset, ticked 0.3% higher to $2,842.60 per ounce.

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Bitcoin falls, golden rises

— Fred Imbert

Canada, Mexico, China and Europe respond to Trump tariffs

The U.S. connected Saturday imposed levies connected imports from Canada, Mexico and China. Here's however those countries, and the European Union, reacted:

Canada: Prime Minister Justin Trudeau slapped retaliatory tariffs of 25% connected $155 cardinal worthy of U.S. goods. "Like the American tariffs, our effect volition besides beryllium far-reaching and see mundane items specified arsenic American beer, vino and bourbon, fruits and effect juices, including orangish juice, on with vegetables, perfume, covering and shoes," Prime Minister Justin Trudeau said.
Mexico: President Claudia Sheinbaum slammed the caller levies, saying she instructed the country's caput of the system to "implement the Plan B we person been moving on, which includes tariff and non-tariff measures successful defence of Mexico's interests."
China: The state said it would record a suit with the World Trade Organization. "The U.S.'s unilateral tariff hike earnestly violates WTO rules, does thing to resoluteness its ain issues, and disrupts mean economical and commercialized practice betwixt China and the U.S.," the Chinese Ministry of Commerce said successful a connection Sunday, according to an NBC translation.
The European Union: A spokesperson for the EU said the bloc would "respond firmly" if President Donald Trump imposed tariffs connected the region. "Across-the-board tariff measures rise concern costs, harm workers and consumers. Tariffs make unnecessary economical disruption and thrust inflation. They are hurtful to each sides," the spokesperson said.

— Katrina Bishop

Oil prices popular aft U.S. hits Mexico, Canada and China with tariffs

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WTI jumps

— Fred Imbert

U.S. dollar edges 1% higher aft Trump tariffs

The U.S. dollar precocious astir 1% connected Sunday night, continuing gains since President Donald Trump implemented tariffs implicit the weekend. The currency is trading adjacent five-year highs.

— Pia Singh