The German stock market has been badly shaken as fears of a recession continue to mount. The German DAX opened with nearly a 10% loss on Monday morning before recovering 3% a few hours later.
27 EU trade Ministers met in Luxembourg on Monday to discuss the response.
EU Commission President Ursula Von der Leyen said the EU is ready for a “good deal” and underlined Europe’s readiness to negotiate with the US.
Deutsche Bank said in a strategy update seen by Euronews that, “the damage is undeniable, the degree of damage still unclear.”
It said it is difficult to assess the implications for markets moving forward “as this largely depends on if, when and by how much the US administration may de-escalate.”
Global stock prices have been falling for several days after US President Donald Trump announced sweeping tariffs across the world on 2 April that has seen trillions of euros wiped off stock markets.
“However, from an…
