- German DAX futures -2.3%
- UK FTSE futures -1.4%
Risk trades are getting hammered as Trump delivers on his tariffs threat against Canada and Mexico. The tariffs will go into effect on 4 February so there's still a tiny sliver of hope for things to change. But in all likelihood, it seems like we'll at least get a taste of a trade war in the short-term to start the new year. Europe is definitely keeping a close watch on its rearview mirror now.
