European Markets Slump on Tariff Fears and Mixed Earnings

Milan’s FTSE MIB index fell 1.25% in line with European peers, driven by tariff concerns after Apple quantified tariff impacts at $1 billion. The Swiss franc weakened following Trump’s announced 39% levy on Swiss imports, though Zurich’s exchange remained closed. Half-year earnings reports further pressured indices: Campari surged 8% in Milan, while Fineco slid 2.8%, Pirelli dropped 2.67%, and Saipem declined 2.18%. Paris’ CAC 40 tumbled 1.5% as Axa plummeted 6% on disappointing earnings, despite its acquisition announcement of Italy’s Prima. Frankfurt’s DAX retreated 1.44% amid the broad sell-off.