European Stock Markets Decline Amid US Tariff Concerns; Banking and Commodity Sectors Under Pressure

European stock markets experienced a downturn on Friday, mirroring losses on Wall Street and declining US futures. The EuroStoxx 50 fell by 2.4% to 4,990.66 points. Switzerland's SMI decreased by 2.74% to 11,935.88 points, while the UK's FTSE 100 dropped by 1.77% to 8,324.93 points. The decline reflects ongoing market concerns regarding US tariff policies. Baader Bank's Robert Halver noted that Trump's tariffs destabilize globalization, leading to wealth destruction. Uncertainty persists, with potential for increased market volatility amid tariff threats and stalled deals. Banking stocks faced renewed pressure, mirroring international trends. Concerns about an economic downturn impacted BNP Paribas and Societe Generale. Commodity and oil stocks also declined, with BP falling by 2.4% following the announcement of Chairman Helge Lund's departure. Generali's shares fell by 5.8% after a downgrade by Morgan Stanley. Defensive stocks, particularly in the food sector, performed better. Danone rose by 2.2%, reaching a five-year high after an upgrade by Morgan Stanley. Pharma stocks underperformed, with the industry potentially facing new tariffs, according to US President Donald Trump.