Taco Thursday: European stocks rise after Trump ‘chickens out’ on tariff threat
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European stock markets rose on Thursday after Donald Trump cancelled planned tariffs on eight European countries. The increase reversed losses from earlier in the week, driven by Trump's initial tariff threat related to Greenland. Analysts attributed the market rebound to a familiar pattern of Trump backing down from aggressive trade measures, dubbed the "Taco trade." The FTSE 100, Germany's Dax, and France's Cac all experienced gains, and Wall Street was forecast to open higher. Investors also reacted positively to developments in the Supreme Court case regarding Trump's attempt to remove Lisa Cook from the Federal Reserve board. While markets rallied, the S&P 500 and the US dollar remained weaker than their levels from the previous Friday.
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AI-ExtractedFrom the market point of view, it’s the classic Taco trade.
It was the first rise for European stock markets this week.
The FTSE 100 gained 0.8% to a high of 10,225 points, while Germany’s Dax and France’s Cac were up 1.4%.
European markets rose on Thursday after Donald Trump cancelled plans to impose fresh tariffs on eight European countries.
Market participants have expressed initial relief that the threat of US military action or tariffs is off the table.
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