07:49 AM EDT, 04/07/2025 (MT Newswires) -- European bourses tracked sharply lower midday Monday as traders mulled uncertain new regimes of higher import levies globally, and overnight sell-offs on Asian exchanges.

Tech, oil, retail and property stocks on the European continent sagged midday amid the broad-market retreats.

Investors also eyed Wall Street futures signaling red, and red-zone closes overnight on Asian exchanges, led by a 13% decline on Hong Kong's Hang Seng Index.

The Trump administration's latest tariffs will weaken revenue and profits for corporate Europe, with the chemical, automotive and hardware sectors struck the hardest, Fitch Ratings said in a report released Monday.

The pan-continental Stoxx Europe 600 Index was down 4.1% mid-session.

The Stoxx Europe 600 Technology Index was off 3.9%, and the Stoxx 600 Banks Index lost 8.4%.

The Stoxx Europe 600 Oil and Gas Index was off 7.1%, and the Stoxx Europe 600 Food and Beverage Index declined 3.4%.

The REITE, a European REIT index, fell 4.5%, and the Stoxx Europe 600 Retail Index declined 3.2%.

On the national market indexes, Germany's DAX was down 3.8%, and the FTSE 100 in London was down 3.9%. The CAC 40 in Paris was off 4%, while Spain's IBEX 35 lost 4.4%.

Yields on benchmark 10-year German bonds were lower, near 2.55%.

Front-month North Sea Brent crude-oil futures were down 1.9% at $64.34 a barrel.

The Euro Stoxx 50 volatility index was up 43% at 46.09, indicating above-average volatility for European stock markets in the next 30 days, a negative signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.