Frankfurt’s DAX traded nearly 1% lower near the 24,000 mark on Monday, making it one of Europe’s worst performers as market jitters intensified over Trump’s proposed EU tariffs. President Donald Trump announced at the weekend that he would impose a 30% tariff on EU imports from August 1, undermining months of trade negotiations. Despite the setback, European Commission President Ursula von der Leyen responded by extending a freeze on countermeasures until August's deadline, signaling continued interest in a deal. Meanwhile, the earnings season will be closely watched this week. The auto sector was particularly hit, with shares of Porsche AG, BMW, Volkswagen, Mercedes-Benz Group, and Porsche Automobil Holding falling between 1.7% and 2.3%. Tech and chemical stocks also came under pressure. Brenntag dropped 3.9% after cutting guidance, while BASF fell over 1% following a profit warning linked to US tariffs and slower global growth.