European markets faced declines on Wednesday as global investors anticipated a wave of new trade tariffs expected from U.S. President Donald Trump’s administration.
Following a rebound on Tuesday, the Stoxx 600 index saw a decline of 0.86% at around 5 PM in Bangkok, with most sectors experiencing losses, although the food and beverage sector recorded slight gains.
The healthcare index in the Stoxx 600 fell as much as 2.2%, hitting its lowest point since December 20, as optimism for any tariff exemptions in the pharmaceutical sector dwindled.
At 5:11 PM Bangkok time, key stocks in the healthcare sector showed declines, including:
AstraZeneca PLC fell by 2.41%, losing 274.0 GBP to trade at 11,092.0 GBP.
Roche Holding AG experienced a decrease of 0.69%, down 2.10 CHF to 301.70 CHF.
Novartis AG dropped 2.06%, shedding 2.05 CHF to reach 97.31 CHF.
Market participants expressed concern that the U.S. might impose stringent import duties after President Trump indicated that his “reciprocal tariffs” plan would target all countries, with the measures taking immediate effect. This announcement was expected post the closing of European markets on Wednesday.
According to a Tuesday report from The Washington Post, which referenced three individuals familiar with the situation, a draft proposal from the White House might include tariffs of approximately 20% on most imports. However, it also indicated that several other options remain under consideration, so the suggested 20% tariffs might not be finalized.
Furthermore, additional trade measures planned to take effect on Wednesday, referred to as “Liberation Day” by the White House, include a 25% tariff on all cars not manufactured in the United States.
