Major bourses in Europe were lower on Tuesday, with both the STOXX 50 and the STOXX 600 down 0.6%, as investors returned from the Easter break amid renewed concerns over trade tensions, the economic outlook, and the independence of the Federal Reserve. President Trump intensified his criticism of Fed Chair Jerome Powell, increasing pressure on the central bank to cut interest rates, and fueling fresh concerns about its autonomy.
Meanwhile, trade negotiations between the US and other countries over tariffs are ongoing. Investors are also closely watching the IMF Spring Meetings this week, with the Fund expected to release an updated global economic outlook.
On the corporate front, Novo Nordisk shares dropped around 6% after rival Eli Lilly reported clinical trial results for its oral GLP-1 drug, showing safety and efficacy comparable to popular injectable treatments.
Other notable decliners included SAP (-3.3%), LVMH (-1.2%), and ASML Holding (-2.1%).
Source: Trading Economics
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