European Benchmarks Tread Into Red Zone

(RTTNews) - European stock markets plunged into negative territory as markets evaluated the negotiations with the U.S. ahead of July 9 deadline for reciprocal tariffs. Dovish comments from officials of the European Central Bank helped limit losses.

U.K.'s FTSE 100 is 0.04 percent below the previous closing level of 8,760.96. It is currently trading at 8,757.49. In the 100-scrip index, 56 scrips are in positive territory.

France's CAC 40 index's current level of 7,635.08 is 0.40 percent below the previous close of 7,665.91. Of the 40 scrips in the index, 15 are trading above Monday's levels.

Germany's DAX is currently trading at 23,749.71, after shedding 0.67 percent from Monday's close of 23,909.61.

Switzerland's Stock Market Index has also declined from the previous close and is currently trading at 11,885.28 after dropping 0.30 percent overnight.

The pan-European Stoxx 600 also shed 0.41 percent from previous close and is currently trading at 539.16.

The EUR/USD pair is currently hovering near 1.1787 whereas the GBP/USD pair is near 1.3714. The USD/CHF pair is at 0.7912.

European markets had closed on a negative note on Monday as markets awaited clarity on trade negotiations. Switzerland's SMI plunged 0.60 percent. Germany's DAX lost 0.51 percent. U.K.'s FTSE 100 dropped 0.43 percent. The pan-European Stoxx-50 declined 0.38 percent. France's CAC 40 lost 0.33 percent.