FX.co ★ European Stocks Gain About 2%

European stocks opened the week with impressive gains, driven by a positive market reaction to President Trump’s late-Friday announcement. Notably, the STOXX 50 rose by 2.1%, while the STOXX 600 increased by 1.9%. This surge was influenced by Trump's declaration of a temporary suspension of reciprocal tariffs on a variety of technology and consumer electronics products. However, while the standard 10% tariff has been paused for all countries, a 20% tariff on Chinese goods remains in place. Trump also indicated that tariffs would still apply to phones, computers, and popular consumer electronics, with specifics on a semiconductor tariff rate to be revealed soon. The sectors leading these gains included banks, basic resources, technology, oil and gas, and financial services.