LIVE MARKETS-Europe before the bell: futures tank as Trump sticks to his guns

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EUROPE BEFORE THE BELL: FUTURES TANK AS TRUMP STICKS TO HIS GUNS

European equity futures are signalling another rocky day as U.S. President Trump sticks to his plan to impose large-scale import tariffs on all America's trading partners.

Euro STOXX 50 futures STXEc1 are down another 4.2% on Monday after the index tanked 8.5% last week, its biggest weekly drop since February 2022.

Futures on the DAX FDXc1, CAC FCEc1 and FTSE FCIc1 are down between 2.6% and 5%.

Speaking to reporters aboard Air Force One on Sunday, Trump indicated he was not concerned about losses that have already wiped out trillions of dollars in value from equity markets around the world.

"I don't want anything to go down. But sometimes you have to take medicine to fix something," he said.

Wall Street futures are tanking too. S&P futures EScv1 are down 3.8%, while Nasdaq futures NQcv1 are off 4.8%.

Overnight, it was a similar picture for Asia-Pacific markets. Japan's Nikkei .N225 slumped 7.9%, its biggest one-day fall since August.

China's CSI 300 .CSI300 slumped 8.4% and Hong Kong's Hang Seng .HSI tumbled 12.6% after being closed on Friday when China vowed to retaliate with its own tariffs on the U.S., a move that triggered heavy equity selling when announced late last week.

Investors will be watching for any further retaliation from major U.S. trading partners, such as Japan or the EU, or whether any countries are willing to come to the negotiating table.

(Samuel Indyk)

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