Stock markets in Europe were largely shrugging off President Donald Trump’s latest tariff announcement on Wednesday. However, the threat from artificial intelligence looks to be rocking advertising giant WPP.
The market still largely expects the European Union to strike a deal with the Trump administration, although any deal is likely to include 10% tariffs on most goods being exported from Europe to the U.S., according to The Wall Street Journal. Trump said Tuesday that the U.S. was talking with the EU and was “probably two days off” from sending a letter to the bloc outlining what tariffs it would have to pay on Aug. 1.
The Stoxx Europe 600 Index was gaining 0.5%, following mixed trading in Asia. The index’s biggest faller was WPP, down 17% in morning trading in London after cutting its full-year financial guidance on the back of lower levels of new business.
