European Shares Seen Lower At Open Ahead Of US Tariff Announcement

(RTTNews) - European stocks are seen opening broadly lower on Wednesday as traders anxiously await details of U.S. President Donald Trump's tariff plans later in the day.

It remains to be seen whether the 'Liberation Day' will mark the end around tariff uncertainty or introduce even more uncertainty and trigger panic in financial markets.

There is much uncertainty regarding the size and the scope of new U.S. tariffs that would take effect immediately after Trump's announcement.

The Washington Post noted that White House aides have drafted a proposal to impose tariffs of around 20 percent on most imports to the United States, but several options are on the table.

Asian stocks clung to marginal gains in cautious trade, oil prices were little changed, and the dollar was steady while gold ticked lower after hitting a new record high earlier this week.

In economic releases, U.S. reports on private sector employment and factory orders may garner some attention later in the day.

U.S. stocks fluctuated before finishing higher overnight ahead of the impending tariff announcements.

Investors shrugged off data that showed activity in the U.S. manufacturing sector contracted in March after two consecutive months of expansion.

Job openings fell in February, but layoffs remained subdued, adding to evidence of a gradually cooling labor market.

The tech-heavy Nasdaq Composite surged 0.9 percent and the S&P 500 rose 0.4 percent after hitting six-month intraday lows in the previous session. The Dow finished marginally lower.

European stocks closed higher on Tuesday after European Commission President Ursula von der Leyen said that the European Union is open to negotiations with the U.S. on tariffs, but all countermeasures are on the table.

The pan European STOXX 600 climbed 1.1 percent, snapping a four-session losing streak. The German DAX gained 1.7 percent, France's CAC 40 rallied 1.1 percent and the U.K.'s FTSE 100 added 0.6 percent.