

Closing summary
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**Donald Trump** has begun an additional trade war, announcing 25% tariffs on all steel and aluminium imports into the United States. This prompted countermeasures from the European Union and Canada, while Australia, the UK and other countries held back from announcing retaliatory action.

European stock markets have risen at the open, lifted by hopes of a ceasefire in Ukraine; the dollar has strengthened against a basket of major currencies.

The Dow Jones is now down 0.7%, the S&P 500 is flat and the Nasdaq, which rose 1.8% earlier, is only 0.7% ahead.

Here in Europe, the German and Italian equity markets are still more than 1% ahead while the French bourse has pared gains to trade 0.3% higher. The UK’s FTSE 100 index in London has edged 0.2% higher.

The dollar is having a better day after trading on Tuesday close to the four-month low it hit last Friday, rising by 0.3% against the basket of other major currencies. The pound is down a tad at $1.2939 while the euro is also slightly lower on the day, but back above the $1.09 level, at $1.0908.

**The relief rally on Wall Street, sparked by a dip in US inflation, is petering out.**

The Dow Jones is now down 0.7%, the S&P 500 is flat and the Nasdaq, which rose 1.8% earlier, is only 0.7% ahead.

Here in Europe, the German and Italian equity markets are still more than 1% ahead while the French bourse has pared gains to trade 0.3% higher. The UK’s FTSE 100 index in London has edged 0.2% higher.

The dollar is having a better day after trading on Tuesday close to the four-month low it hit last Friday, rising by 0.3% against the basket of other major currencies. The pound is down a tad at $1.2939 while the euro is also slightly lower on the day, but back above the $1.09 level, at $1.0908.

**The relief rally on Wall Street, sparked by a dip in US inflation, is petering out.**

The Dow Jones is now down 0.7%, the S&P 500 is flat and the Nasdaq, which rose 1.8% earlier, is only 0.7% ahead.

Here in Europe, the German and Italian equity markets are still more than 1% ahead while the French bourse has pared gains to trade 0.3% higher. The UK’s FTSE 100 index in London has edged 0.2% higher.

The dollar is having a better day after trading on Tuesday close to the four-month low it hit last Friday, rising by 0.3% against the basket of other major currencies. The pound is down a tad at $1.2939 while the euro is also slightly lower on the day, but back above the $1.09 level, at $1.0908.

**The relief rally on Wall Street, sparked by a dip in US inflation, is petering out.**

The Dow Jones is now down 0.7%, the S&P 500 is flat and the Nasdaq, which rose 1.8% earlier, is only 0.7% ahead.

Here in Europe, the German and Italian equity markets are still more than 1% ahead while the French bourse has pared gains to trade 0.3% higher. The UK’s FTSE 100 index in London has edged 0.2% higher.

The dollar is having a better day after trading on Tuesday close to the four-month low it hit last Friday, rising by 0.3% against the basket of other major currencies. The pound is down a tad at $1.2939 while the euro is also slightly lower on the day, but back above the $1.09 level, at $1.0908.

**The relief rally on Wall Street, sparked by a dip in US inflation, is petering out.**

The Dow Jones is now down 0.7%, the S&P 500 is flat and the Nasdaq, which rose 1.8% earlier, is only 0.7% ahead.

Here in Europe, the German and Italian equity markets are still more than 1% ahead while the French bourse has pared gains to trade 0.3% higher. The UK’s FTSE 100 index in London has edged 0.2% higher.

The dollar is having a better day after trading on Tuesday close to the four-month low it hit last Friday, rising by 0.3% against the basket of other major currencies. The pound is down a tad at $1.2939 while the euro is also slightly lower on the day, but back above the $1.09 level, at $1.0908.

**The relief rally on Wall Street, sparked by a dip in US inflation, is petering out.**

The Dow Jones is now down 0.7%, the S&P 500 is flat and the Nasdaq, which rose 1.8% earlier, is only 0.7% ahead.

Here in Europe, the German and Italian equity markets are still more than 1% ahead while the French bourse has pared gains to trade 0.3% higher. The UK’s FTSE 100 index in London has edged 0.2% higher.

The dollar is having a better day after trading on Tuesday close to the four-month low it hit last Friday, rising by 0.3% against the basket of other major currencies. The pound is down a tad at $1.2939 while the euro is also slightly lower on the day, but back above the $1.09 level, at $1.0908.

**The relief rally on Wall Street, sparked by a dip in US inflation, is petering out.**

The Dow Jones is now down 0.7%, the S&P 500 is flat and the Nasdaq, which rose 1.8% earlier, is only 0.7% ahead.

Here in Europe, the German and Italian equity markets are still more than 1% ahead while the French bourse has pared gains to trade 0.3% higher. The UK’s FTSE 100 index in London has edged 0.2% higher.

The dollar is having a better day after trading on Tuesday close to the four-month low it hit last Friday, rising by 0.3% against the basket of other major currencies. The pound is down a tad at $1.2939 while the euro is also slightly lower on the day, but back above the $1.09 level, at $1.0908.

**The relief rally on Wall Street, sparked by a dip in US inflation, is petering out.**

The Dow Jones is now down 0.7%, the S&P 500 is flat and the Nasdaq, which rose 1.8% earlier, is only 0.7% ahead.

Here in Europe, the German and Italian equity markets are still more than 1% ahead while the French bourse has pared gains to trade 0.3% higher. The UK’s FTSE 100 index in London has edged 0.2% higher.

The dollar is having a better day after trading on Tuesday close to the four-month low it hit last Friday, rising by 0.3% against the basket of other major currencies. The pound is down a tad at $1.2939 while the euro is also slightly lower on the day, but back above the $1.09 level, at $1.0908.

**The relief rally on Wall Street, sparked by a dip in US inflation, is petering out.**

The Dow Jones is now down 0.7%, the S&P 500 is flat and the Nasdaq, which rose 1.8% earlier, is only 0.7% ahead.

Here in Europe, the German and Italian equity markets are still more than 1% ahead while the French bourse has pared gains to trade 0.3% higher. The UK’s FTSE 100 index in London has edged 0.2% higher.

The dollar is having a better day after trading on Tuesday close to the four-month low it hit last Friday, rising by 0.3% against the basket of other major currencies. The pound is down a tad at $1.2939 while the euro is also slightly lower on the day, but back above the $1.09 level, at $1.0908.
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