币界网报道：European equity markets appear to be underestimating potential risks from escalating global trade tensions, analysts warn. Despite recent tariff hikes by the U.S. and China, European stocks have remained resilient, with the Stoxx 600 index up 8% year-to-date. However, economists caution that prolonged trade disputes could disrupt supply chains and dampen corporate earnings, particularly for export-heavy sectors like automotive and luxury goods. The European Central Bank's accommodative monetary policy has provided temporary support, but fundamental vulnerabilities remain. Investors are advised to monitor upcoming trade negotiations closely, as failure to reach agreements may trigger market corrections in the second half of 2025.