European Stocks Hit Record Highs as Trump's 10% Tariff Begins

European stock markets surged to record intraday highs on Wednesday as global investors adjusted to the implementation of a 10% universal tariff by Donald Trump.HSBC shares jumped over 5% after the bank reported an annual profit of nearly $30B, while technology sentiment improved following a new enterprise partnership by Anthropic.The market gains followed a State of the Union address where Donald Trump suggested that tariff revenue could replace federal income tax as the USA navigates a new trade landscape.