Europe’s stock market rebound picked up steam Tuesday morning, with the FTSE 100 index, which tracks the largest companies listed in London, surging by 2%, or 153 points, reaching 7852, marking a significant recovery and lifting the FTSE 100 away from its lowest point in over a year, The Guardian reported.
However, despite this positive movement, the index has made little progress in recovering from the heavy losses suffered since the announcement of new tariffs by US President Donald Trump last week.
Meanwhile, the pan-European Stoxx 600 index was up 1.75%, reflecting gains seen across many Asia-Pacific markets overnight, the report said. Notably, Japan’s Nikkei jumped by 6%, as Japan became the first major economy to secure priority tariff negotiations with Trump.
US Resembling an Emerging Market, Says Euronext CEO
In a separate development, the head of Euronext, the pan-European stock exchange operator, told France Inter radio that the US is starting to resemble an emerging market more than a developed country, following last week’s market turmoil caused by tariff announcements.
Stephane Boujnah, CEO of Euronext, reportedly said “fear exists all over,” adding that the US is currently in a period of transition.
“The country (United States) is unrecognizable and we are living in a transition period,” Boujnah said, according to The Guardian. “There is a certain form of mourning, because the United States that we had known for the most part as a dominant nation resembled the values and institutions of Europe and now resembles more an emerging market.”
