European stock markets opened on a mixed footing today, reflecting a waning enthusiasm that followed last week’s Supreme Court decision on tariffs related to Trump’s policies. Investors are now grappling with the implications of a new 15% tariff announced by the US President, which is set to take effect immediately. This announcement has sparked uncertainty among European markets and other global trade partners about the potential repercussions of such measures on international trade relations.

In addition to tariff-related concerns, tensions in the Middle East, particularly regarding the possibility of a US military strike against Iran, are also weighing heavily on market sentiment. These geopolitical issues create a volatile environment, making investors cautious and driving down trading volumes. As traders sift through these developments, significant attention is being directed towards monetary policy, particularly the upcoming speech by ECB President Christine Lagarde in Washington, which may provide insights into Europe’s economic direction.

On the domestic front, Italy’s inflation figures have been released, showing a monthly increase of 0.4% in the consumer price index for January, with an annual rise of 1.0%, slightly down from December's 1.2%. The confirmed results from Istat indicate steady inflation trends, which could influence future monetary policy decisions by the ECB, especially as European markets navigate through these external uncertainties.