European shares fall as investors on edge before US tariffs

European shares ticked lower on Wednesday as investors were on edge ahead of reciprocal tariffs from the United States, that are feared to herald an era of slow global growth and higher inflation.

The pan-European STOXX 600 index was down 0.5% at 0712 GMT.

Details of Trump's "Liberation Day" tariff plans, which will take effect immediately after they are announced at 2000 GMT, were still being formulated and closely held.


A lack of clarity on the size and scope of tariffs and the response from other countries has rattled sentiment, pushing the STOXX 600 to over two-month lows this week, about 4.6% below its March all-time high.

Losses in pharma stocks weighed the most on the index, led by a 1.8% drop in Novo Nordisk.

Novo Holdings, the drugmaker's controlling shareholder, nearly doubled annual income and investment returns to a record 8 billion euros ($8.66 billion) in 2024, although its total assets under management dropped slightly.

Meanwhile, shares of Svitzer soared 31.1% after Denmark's A.P. Moller Holding made a cash offer of 9 billion Danish crowns ($1.30 billion) for the towage and marine service provider. ($1 = 6.9199 Danish crowns)