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Al-Houthi: We find ourselves in the most sacred battle and the greatest position. We do not consider the sacrifices to be wasted losses; rather, we have given everything for the sake of this stance.
Al-Houthi: The Zionist scheme is undoubtedly a plot to enslave and exploit this nation. This is a fact, not an exaggeration.
Al-Houthi: Great sacrifice in the path of God only increases our steadfastness, determination, certainty, resilience, and cohesion.
Al-Houthi: The Zionist crime confirms the importance of Yemen's conscious and insightful position based on constants, values, and human ethics.
Al-Houthi: The Israeli enemy is a criminal who proves its brutality and monstrosity through all its criminal practices, void of any controls.
Al-Houthi: The Israeli enemy's record is one of terrible and horrific crimes, full of bloodshed against the Palestinian people and people in Lebanon, Syria, Iraq, and Iran.
Al-Houthi: The crime of targeting ministers and civilian workers adds to the Israeli enemy's criminal record in the region.
Al-Houthi: All of the martyrs were ministers working in civilian fields.
Sayyed Abdul Malik al-Houthi: We extend our sincerest condolences to all the martyrs' families, their loved ones, their colleagues, and our dear people.
Al Mayadeen's correspondent: An Israeli drone targeted a residential apartment in the al-Natour Square in the Sheikh Radwan neighborhood of Gaza City

European stocks sink as tariff fears spark global slowdown worries

  • By Al Mayadeen English
  • Source: Agencies
  • 31 Mar 2025 22:04
3 Min Read

The STOXX 600 index, which tracks major European shares, dropped 1.5%, its sharpest single-day fall in nearly three weeks, and extended its losing streak to four sessions.

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    A man walks on a map showing the countries of the Eurozone in the hallway of the European Central Bank after a meeting of the ECB's governing council in Frankfurt, Germany, Thursday, June 6, 2024 (AP)

European stock markets ended Monday at their lowest point in two months, as renewed trade tensions sparked by US President Donald Trump's sweeping tariff threat sent investors fleeing from riskier assets. The move added fuel to mounting fears of a global economic slowdown. 

The STOXX 600 index, which tracks major European shares, dropped 1.5%, its sharpest single-day fall in nearly three weeks, and extended its losing streak to four sessions. Volatility spiked, with the region's V2TX index nearing a three-week high, as investors moved toward safe-haven assets like gold and the Japanese yen. 

President Trump's declaration that new tariffs would apply to all countries—set to take effect on April 2—has rattled markets already on edge. The expectation of reciprocal measures from US trading partners intensified concerns over a prolonged disruption to global trade.

"As much as investors might hope for it, this is unlikely to put an end to tariff uncertainty," Jason Draho, Head of Asset Allocation Americas at UBS Global Wealth Management, told The Telegraph. "Uncertainty and market volatility are likely to stay high in the near term as investors recalibrate their outlooks after these events," he added, referring to the April 2 deadline and the US payroll report due later this week.

Tariff Tremors

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Goldman Sachs responded to the escalating trade threats by slashing growth forecasts for both the US and eurozone, while anticipating a 25-basis-point rate cut from both the Federal Reserve and the European Central Bank (ECB). ECB President Christine Lagarde, while cautioning about the short-term drag, suggested the tariffs could push the bloc toward greater economic self-reliance.

Germany, Europe's largest economy, saw its inflation rate ease slightly to 2.3% in March, just under forecasts. Broader eurozone inflation figures are due Tuesday, and markets are now pricing in around 58 basis points of rate cuts by the ECB through the end of 2025.

The renewed tariff battle has hit Europe's export-heavy sectors especially hard. The automotive industry, a frequent target of US tariffs, has already been affected, with companies like BMW and Volkswagen seeing share prices slip in recent days. Meanwhile, basic resources stocks led Monday's losses, down 3.3%—their weakest showing since December 2020.

Read more: EU will unite against Trump tariffs, but open to 'compromise': Scholz

Airline stocks were also battered by signs of weakening US demand. British Airways parent IAG dropped 6.6% after Virgin Atlantic flagged a slowdown in bookings.

Despite the downturn in March—where the STOXX 600 fell 2.7%, its worst monthly performance since October—the index still closed the first quarter up 5.2%, marking its best quarterly performance in a year, buoyed by Germany's fiscal stimulus and expectations of slower US growth due to trade disruptions.

Amid the broader gloom, Swedish accounting software firm Fortnox was a rare bright spot, soaring more than 33% after announcing a joint acquisition offer from its top shareholder First Kraft and private equity firm EQT, valuing the company at approximately 55 billion kronor ($5.51 billion).

  • US tariffs
  • United States
  • STOXX 600
  • trade war
  • European Central Bank
  • European Union

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