European stock markets opened on Tuesday with small gains after a Monday with significant falls.
London's leading FTSE 100 index rose by 1.3 percent - while the French CAC 40 index in Paris rose by 1.4 percent after the opening of stock trading. The leading German DAX index in Frankfurt rose slightly less by 0.9 percent - which is in sharp contrast to Monday's fall of 4.1 percent at the close.
The European stock markets thus follow a similar recovery on the stock exchanges in Asia after a blood-red Monday. Several stock exchanges in Asia experienced the biggest stock falls in many years on Monday. The Hang Seng index in Hong Kong fell by more than 13 percent - which was the biggest drop on the stock exchange since the Asian financial crisis in 1997.
Tuesday also brightens the Danish C25 stock index, which includes the 25 largest and most traded companies on the Copenhagen Stock Exchange. The stock index opens the trading day in the green with a small increase of 0.4 percent. The same trend is seen on the Oslo Stock Exchange, which opens with an increase of around 0.8 percent.
The slide in the stock markets comes after US President Donald Trump's worldwide tariffs on foreign goods. Goods from the EU will be subject to a 20 percent tariff, while Chinese goods, for example, will be hit by a 34 percent tariff. The tariff for the EU and a number of other countries is scheduled to come into effect on April 9.
China responded again on Friday by retaliating against the US tariffs, which sent further tremors through the stock markets. China will impose an additional 34 percent tariff on all American goods from April 10.
This got Donald Trump on his nerves on Monday. On his social media, Truth Social, the president wrote that he will impose an additional 50 percent tariff on China, unless China chooses to withdraw its retaliatory tariffs against the United States by then.
The White House confirmed to AFP that the 50 percent will be added to the already planned tariff rate of 34 percent for China, which Trump presented last week. The EU is also expected to respond to Trump's extensive tariff hammer.
jel /ritzau/AFP
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