The German stock market is experiencing significant turmoil due to rising recession fears, with the DAX initially dropping nearly 10% before recovering slightly. EU trade ministers met to discuss the situation, with EU Commission President Ursula Von der Leyen expressing readiness for negotiations with the US. Deutsche Bank highlighted the uncertainty surrounding market implications following US tariffs announced by President Trump. The DAX has lost almost 20% in less than a week, erasing all gains since October. Chancellor Olaf Scholz is in close contact with European leaders and businesses to address the situation, while major firms anticipate a recession.