European markets are set to begin the week on a negative note as global financial hubs react to President Donald Trump's latest tariff strategy. The U.S. leader's decision to impose a 15% global levy, up from 10%, has sent shockwaves through the markets, with European indices expected to open lower. The FTSE, DAX, CAC 40, and FTSE MIB are all predicted to start the week with a decline, according to IG data. This comes after the U.S. Supreme Court's ruling against a significant portion of Trump's 'reciprocal' tariffs last week, which initially boosted European markets. However, the President's weekend announcement has introduced a new layer of uncertainty, with U.S. stock futures falling and market sentiment shifting. Despite the tariff uncertainty, Asia-Pacific markets managed to rise overnight. The week ahead promises a quiet start with no earnings reports on Monday, but investors will be keenly watching the Ifo business climate survey in Germany and Italy's inflation data for any clues on the economic outlook.
