European Shares Slide On Tariff Worries

(RTTNews) - European stocks drifted lower on Monday after U.S. President Donald Trump said that upcoming tariffs would target all countries, stoking worries a global trade war could lead to recession.

In economic releases, Germany's import prices grew at the fastest pace in more than two years in February, while export prices were 2.5 percent higher than in the same period last year, marking the largest annual increase recorded since March 2023, according to data from Destatis released earlier today.

The pan European STOXX 600 was down 1.1 percent at 535.94, extending losses for a fourth consecutive session.

The German DAX fell a little over 1 percent, France's CAC 40 shed 1.3 percent and the U.K.'s FTSE 100 lost 1 percent.

Swedish automaker Volvo Car fell 1.2 percent after appointing Hakan Samuelsson as its new chief executive.

Fortnox AB soared 35 percent. Swedish buyout group EQT and investor First Kraft offered to buy the accounting software firm in a deal that values the company at around 55 billion crowns ($5.50 billion).

3i Infrastructure, a U.K. based investment company, declined about 1 percent after releasing a pre-close trading update for the year ending 31 March 2025.

Pennon Group shares tumbled 3 percent. The British utility said a water contamination outbreak which affected thousands of homes in a Southwest seaside resort pushed up 'reshaping and transformation' costs to around £36m.

Pets At Home Group plummeted almost 13 percent after it warned of lower profit in the 2026 financial year.

Associated British Foods tumbled 3.7 percent as Primark CEO Paul Marchant resigned amid an investigation into behaviour allegations.