German automaker Volkswagen reported a steep decline in profits for Q2 and also lowered its full-year guidance, citing negative impact from Trump's tariffs. Meanwhile, LVMH also reported weaker quarterly sales and that's a negative drag for French stocks as we approach the new day.
This follows from the drop in the Dow as well yesterday, with Wall Street turning in favour of tech shares instead. US futures are holding steadier today though, up around 0.1% for now. But for European stocks, all eyes are still on the US-EU trade deal which is yet to materialise ahead of the weekend.
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