欧洲主要股市周二下跌，STOXX 50和STOXX 600均下跌0.6%，因投资者在复活节假期后回归，对贸易紧张局势、经济前景和美联储独立性再次感到担忧。特朗普总统加大了对美联储主席杰罗姆·鲍威尔的批评力度，加大了美联储降息的压力，并引发了人们对其自主权的新担忧。与此同时，美国和其他国家之间关于关税的贸易谈判正在进行中。投资者也在密切关注本周的国际货币基金组织春季会议，预计该组织将发布最新的全球经济展望。在企业方面，诺和诺德股价下跌约6%，此前竞争对手礼来公司报告了其口服GLP-1药物的临床试验结果，显示其安全性和有效性可与流行的注射疗法相媲美。其他值得注意的跌幅包括SAP（-3.3%）、LVMH（-1.2%）和ASML控股（-2.1%）。

Major bourses in Europe were lower on Tuesday, with both the STOXX 50 and the STOXX 600 down 0.6%, as investors returned from the Easter break amid renewed concerns over trade tensions, the economic outlook, and the independence of the Federal Reserve. President Trump intensified his criticism of Fed Chair Jerome Powell, increasing pressure on the central bank to cut interest rates, and fueling fresh concerns about its autonomy. Meanwhile, trade negotiations between the US and other countries over tariffs are ongoing. Investors are also closely watching the IMF Spring Meetings this week, with the Fund expected to release an updated global economic outlook. On the corporate front, Novo Nordisk shares dropped around 6% after rival Eli Lilly reported clinical trial results for its oral GLP-1 drug, showing safety and efficacy comparable to popular injectable treatments. Other notable decliners included SAP (-3.3%), LVMH (-1.2%), and ASML Holding (-2.1%).

随着漫长的复活节周末后交易恢复，欧洲股市周二开盘似乎将走弱。唐纳德·特朗普总统升级了对美联储主席杰罗姆·鲍威尔的攻击，引发了人们对美联储独立性的新担忧，情绪受到抑制。全球市场因贸易谈判的持续僵局而进一步动荡，中国没有表现出放弃华盛顿激进关税战略的迹象。由于今天欧洲没有公布重大经济数据或盈利报告，投资者的注意力仍然集中在全球发展上。在早盘交易中，欧洲斯托克50指数期货下跌0.7%，斯托克600指数期货下跌0.3%。

European equity markets looked set for a weaker open on Tuesday as trading resumed following the long Easter weekend. Sentiment was dampened after President Donald Trump escalated his attacks on Fed Chair Jerome Powell, raising fresh concerns about the central bank’s independence. Global markets were further unsettled by the ongoing impasse in trade negotiations, with China showing no signs of backing down from Washington’s aggressive tariff strategy. With no major economic data or earnings reports scheduled in Europe today, investor focus remained on global developments. In early premarket trading, Euro Stoxx 50 futures fell 0.7%, while Stoxx 600 futures declined 0.3%.

欧元兑美元汇率上涨约1.5%，至1.15美元，为2021年11月以来的最高水平，这是由于对美联储独立性的担忧日益加剧，美元普遍疲软造成的。这一转变是在特朗普总统和美国国家经济委员会主任发表讲话后做出的，暗示特朗普仍在“研究”是否解雇美联储主席鲍威尔。4月份迄今为止，欧元兑美元汇率已攀升超过5%，因为投资者越来越质疑美元在全球金融体系中的主导地位，并转向共同货币作为替代品。额外的支持来自对国防开支增加的预期，特别是在德国。在政策方面，欧洲央行按预期将存款利率下调25个基点至2.25%，为2023年初以来的最低水平。央行还删除了将其政策立场称为“限制性”的措辞，同时警告称，由于贸易紧张局势升级，经济前景已经恶化。市场目前预计，到今年年底，将再有三次降息25个基点。

The euro rallied about 1.5% to $1.15, its strongest level since November 2021, fueled by broad dollar weakness amid growing concerns over the Fed’s independence. The shift followed remarks from President Trump and US National Economic Council Director, suggesting Trump is still “studying” whether to dismiss Fed Chair Powell. The euro has climbed over 5% against the dollar so far in April, as investors increasingly question the dollar’s dominance in the global financial system and turn to the common currency as an alternative. Additional support came from expectations of increased defense spending, particularly in Germany. On the policy front, the ECB cut its deposit rate by 25bps to 2.25% as anticipated, the lowest since early 2023. The central bank also removed language referring to its policy stance as “restrictive,” while warning that the economic outlook has worsened due to escalating trade tensions. Markets are now pricing in three more 25bps rate cuts by the end of the year.

欧洲主要股市周四下跌，STOXX 50指数下跌0.8%，STOXX 600指数下跌0.3%，此前欧洲央行如普遍预期将利率下调25个基点至2.25%。此举反映出经济增长放缓和通胀缓解，而美国关税的不确定性仍在继续。值得注意的是，欧洲央行在其声明中删除了“限制性”一词，这是未来进一步宽松的潜在信号。市场也消化了喜忧参半的收益：奢侈品巨头爱马仕在第一季度销售额低于预期后下跌了3%，而西门子能源公司因业绩强于预期和2025年前景升级而上涨了13%。在贸易方面，在特朗普总统表示与日本的谈判取得“重大进展”后，市场情绪略有改善，这增加了人们对更广泛协议的希望。

Major European stock markets fell on Thursday, with the STOXX 50 down 0.8% and the STOXX 600 slipping 0.3%, after the ECB cut interest rates by 25bps to 2.25%, as widely expected. The move reflects slowing growth and easing inflation, while uncertainty from US tariffs continues to weigh. Notably, the ECB dropped the word "restrictive" from its statement, a potential signal of further easing ahead. Markets also digested mixed earnings: luxury giant Hermès fell 3% after Q1 sales missed estimates, while Siemens Energy jumped 13% on stronger-than-expected results and an upgraded 2025 outlook. On the trade front, sentiment improved slightly after President Trump said “big progress” was made in talks with Japan, raising hopes for broader deals.