European stocks in red amid uncertainties related to US tariffs

By Gokhan Ergocun

ISTANBUL (AA) - Major European stock markets saw significant losses on Monday, as uncertainties related to the US tariffs continue.

The US tariff package has raised concerns that a large-scale trade war could erupt which could lead to a global economic slowdown.

Many trading partners, including China and the EU, have already announced countermeasures.

Germany's DAX index posted a huge loss of around 10% to 18,523.6 early Monday as of 0715GMT.

Britain's FTSE100 index lost 6% to 7,592.33 points and France's CAC 40 index dropped by 6.7% to 6,786.23.

The pan-European STOXX 600 index also fell by 6.25% to 465.30.