Major stock market indexes in Europe turned to losses on Friday after Beijing responded to Washington lifting its tariffs on Chinese exports to a combined 125%, reported to have even hit 145%, by introducing the same measure against the United States.

The DAX slid by 1.37 or 281 points at 10:36 am CET. The CAC 40 declined by 0.91%. The Euro Stoxx 50 dipped by 1.03% at 10:37 am CET. The FTSE 100 decreased by 0.50% at 10:52 am CET. Spain's IBEX 35 dropped by 0.49% at 10:38 am CET. Italy's FTSE MIB sank by 1.75% or 600 points at 10:54 am CET. The Swiss Market Index (SMI) went down by 0.96% or 107 points at 10:39 am CET.

The euro soared by 2.14% against the dollar at 10:55 am CET to sell for $1.14373. Simultaneously, the pound sterling increased by 1.12% against the US currency to change hands for $1.31156.