Overview

• President Trump has ordered 30 percent tariffs on EU imports starting August 1, heightening U.S.–EU trade tensions.
• U.S. consumer prices climbed 2.7 percent year-on-year in June, leading investors to scale back expectations for near-term Fed rate cuts.
• French Prime Minister François Bayrou’s announcement of a €43.8 billion austerity plan for 2026 prompted political opposition and weighed on French equities.
• Renault’s 2025 earnings guidance cut triggered an 18.5 percent plunge in its share price, contributing to volatility in European auto stocks.
• Nvidia’s decision to resume sales of its advanced AI chips to China has buoyed technology shares and lifted the Nasdaq to a new record.