The euro surged to a five-month high, reaching $1.0947, following Ukraine's readiness to accept a U.S.-proposed 30-day ceasefire. European equity futures also climbed, with FTSE futures rising 0.3% and Germany's DAX up 195 points. The U.S. decision to restore military aid and intelligence-sharing to Ukraine further supported market sentiment. Global markets faced challenges from ongoing tariff uncertainties and concerns about a U.S. economic slowdown. President Donald Trump enacted a 25% tariff on steel and aluminum imports and briefly considered doubling tariffs on Canadian imports before retracting the proposal. The Russian rouble also rose to a seven-month high amidst these developments. Stocks experienced significant fluctuations, with the Nasdaq suffering its worst day since 2022 earlier in the week. The S&P 500 faced correction fears, while travel and retail sectors were hit hard. Companies like Delta Air Lines and Kohl's reported disappointing financial results amid broader economic uncertainty.