Wall Street closes at a record for the first time since end of January
Feb 23 (Reuters) - European shares dipped in choppy trading on Monday, rocked by a fresh wave of uncertainty regarding U.S. trade policy after President Donald Trump announced a new rate of global tariffs.
The pan-European STOXX had capped last week with a record high after the U.S. Supreme Court struck down tariffs that Trump had slapped on global economies last year.
Over the weekend, Trump announced a new 10% rate and then lifted it to 15%, sparking ambiguity over the relevance of trade deals such as with the EU. The European Commission has ruled out changes.
On Monday, the STOXX slipped 0.3% to 628.62 points by 0815 GMT, with Germany’s DAX down the most by 0.7%.
Most sectors were in the red, with technology leading declines with a 1.3% drop, while banks, seen as more domestically focused, among the top gainers.
Italy’s biggest utility Enel (MI:ENEI) gained 3.4% after saying it would increase its capital expenditure over the next three years, shifting focus to renewables, mainly in Europe and the U.S.
Johnson Matthey (L:JMAT) tanked 14% after agreeing to slash the sale price of its catalyst technologies business to Honeywell (O:HON), after the unit underperformed in fiscal 2025 with deferred projects and weaker profitability.