Frankfurt's DAX fell more than 1% to near 23,700 on the first trading day of August, its lowest since July 1, as heightened trade tensions triggered a wave of risk-off sentiment across European markets. The selloff followed US President Donald Trump's announcement of tougher tariffs - effective August 7 - on dozens of countries, including a 35% tariff on Canadian goods after Canada failed to reach a trade agreement with the White House. A 15% tariff on EU imports was also confirmed. Meanwhile, President Trump sent letters to 17 drugmakers, including US firms, demanding lower prices. On the corporate front, shares in Daimler Truck plunged 7% after the company cut its full-year outlook late on Thursday, citing persisting market weakness in North America. Other notable decliners included Siemens Energy, Merck, Allianz, Heidelberg Materials, Airbus, Fresenius Media Care and Sartorius, with losses ranging between 1.9% and 3%.