PARIS (Reuters) – European scholarships ended up sharply on Thursday, investors welcoming the break announced by Donald Trump on so -called “reciprocal” customs duties which opens the way to negotiations between the United States and their business partners.

In Paris, CAC 40 increased by 3.83% to 7,126.02 points. The German DAX rose 4.67% and the British footsia has increased by 3.04%.

The Eurostoxx 50 index finished the session on an increase of 4.4%, while the FTSEUROFIRST 300 scored a gain of 4.02%. The Stoxx 600 took 3.93%.

US President Donald Trump announced a 90 -day “reciprocal” customs duties on Wednesday, with the exception of China, relieving investors who feared the consequences of such policies. The European Union reacted by also suspending its first countermeasures for the same duration, leaving the path open to negotiations.

If the markets in Europe have reacted positively, economists and analysts are more cautious and at Wall Street, the clues left Thursday in sharp decline after welcoming the break decreed by Donald Trump on Wednesday.

“The 90 -day break leaves a little time for de -escalation and negotiation, but the general orientation remains clear: the increase in customs duties is probably there to stay,” said Tiffany Wilding, an economist at Pimco, in a note.

“A rapid estimate shows that the average customs rate of customs duties on exported products to the United States fell only 17% with the softenings announced on Wednesday, against 25% previously: in addition to the ‘floor’ tax of 10%, there are indeed sectoral measures and high customs duties on China,” detailed Nicolas Forest, responsible for investments at Candriam.

“There will therefore be economic repercussions in the United States and around the world, for which exports represent 25% of the gross domestic product,” he added.

A Wall Street

The New York Stock Exchange is playing sharply down Thursday in mid-session after a record session on Wednesday which saw the S&P 500 index record its highest increase in one day since 2008 and the Nasdaq its highest increase in one day since 2001.

At the time of the fence in Europe, exchanges at the New York Stock Exchange indicated a decline of 5.72% for the Dow Jones, against 4.93% for the Standard & Poor’s 500, and 4.22% for the Nasdaq Composite.

Values ​​in Europe

Several European sectors have largely benefited from commercial relaxation and investor relief.

European banks have increased sharply, the sectoral index winning 5.49% – its highest increase since March 2022 – just like the semiconductor sector which took 4.58%.

Sports clothing manufacturers and fashion retailers climbed for the same reasons, Adidas, Puma and JD Sports closing up from 3% to 5.8%.

Changes

The dollar continues its withdrawal Thursday with concerns about the reliability of the currency and fears about American growth linked to the Trump administration policies.

The greenback decreases 1.78% against a basket of reference currencies, including the euro which rises from 2.38% to 1.1212 dollars, heading towards its highest increase in one session since 2022.

RATE

After the strong tensions of the last days, American returns fell on Thursday as investors continue to estimate the consequences of the Trump administration policies and reversals on the American economy.

The ten -year -old Treasury yield declined from 1.8 pb to 4.38%, after going from a hollow to 3.86% on Monday to a higher 4.515% on Wednesday.

The two -year title yield abandons 13.7 bp to 3.8142%.

In Europe, the yield of ten years German closed practically stable, at 2.578%, while the rate of German loans at two years old took 7 pb, at 1.783%.

OIL

Oil prices are oriented sharply, investors worrying about climbing trade tensions between China and the United States and its consequences on global oil demand.

The Brent fell 3.19% to 63.39 dollars per barrel and the American light crude (West Texas Intermediate, WTI) weakens 3.64% to 60.08 dollars.

The indicators of the day

Consumer prices in the United States have dropped in March unexpectedly, show data from the Labor Department published Thursday, while the number of unemployment registrations during the week of April 5 accelerated as expected at 223,000.

To be continued Friday April 11:

Large American banks will open the ball of the first quarter of 2025 across the Atlantic, an opportunity for investors to seek keys to reading the first consequences of Trump administration policies on businesses and activity.

(Written by Bertrand de Meyer, edited by Blandine Hénault)

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