By Reuters Us President Donald
FRANKFURT: European shares closed lower on Friday, as losses in banks and healthcare stocks weighed at the end of a week marred by US President Donald Trump鈥檚 tariff announcements, with the European Union also awaiting a letter on levies from Trump.
The pan-European STOXX 600 index closed 1% lower, snapping a four-day win streak and clocking its biggest single-day decline in over three-months.
Germany鈥檚 DAX and Britain鈥檚 FTSE both came off their record high levels seen this week to fall 0.8% and 0.4%, respectively on Friday.
The EU initially hoped to strike a comprehensive trade agreement with the US, including zero-for-zero tariffs on industrial goods, but months of difficult talks have led to the realization it will probably have to settle for an interim agreement and hope something better can be negotiated.
鈥淲e had expected it to be approved on Wednesday, so the longer this drags on, the more we worry that Trump isn鈥檛 on board, and the EU could get hit with significantly higher tariffs yet agai