Major bourses in Europe extended their losses on Friday, with the STOXX 50 dropping 0.9% and the STOXX 600 falling 1%, reaching their lowest levels since mid-January. This extended the sharp sell-off from the previous session, when the benchmarks tumbled 3.7% and 2.7%, respectively.
Investor sentiment remains cautious following the Trump administration's tariff announcement. In response, the EC has stated it is preparing countermeasures, French President Macron urged French companies to halt planned investments in the US and Germany's outgoing economy minister predicted that Trump would "buckle under pressure" if Europe unites in its response.
Banking stocks were among the hardest hit on Friday, along with basic resources, oil, and gas. Deutsche Bank fell 5%, UniCredit lost 4.1%, BBVA declined 3.2%, Societe Generale dropped 3%, and Banco Santander slid 2.9%. In contrast, L'Oréal gained nearly 1.7%. For the week, the STOXX 50 is down 4%, while the STOXX 600 has declined nearly 3.5%.
Source: Trading Economics
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