A look at the day ahead in European and global markets from

Kevin Buckland

And so it begins.

Trump took to his platform Truth Social late on Monday to

threaten 25% tariffs on Mexico and Canada if they don't better

control their borders, and additional tariffs on China.

Asian investors still sipping their morning coffees were

suddenly racing to hit the sell button, sending the Mexican peso

down more than 2% on the dollar at one point and Japan's

Nikkei almost 2% lower. Automakers were standout losers.

Toyota ( TM ) tumbled close to 3% and Nissan ( NSANF ) nearly

5%.

Most markets regained some composure by midday in Asia but

pan-European STOXX 50 futures are still pointing down

by about 1%, with traders wary that Europe will soon be in

Trump's cross-hairs.

The episode conjures uncomfortable memories for markets that

have got used to reacting to scheduled events such as Fed policy

announcements and monthly payrolls reports during Joe Biden's

tenure as president. Now, investors must brace for market-moving

Trump posts at any hour, like during his first term in office.

One analyst quipped that it was time to consider downloading

Trump's Truth Social app since X, formerly known as Twitter, is

no longer the incoming President's platform of choice.

But going by Trump's first term, social media posts and

reality haven't always matched up. There's still some way to go

before Trump takes the oath again in January, meaning sentiment

towards Mexico, Canada and other tariff targets could change.

Ultimately, Trump has said many times, he's all about making

deals.

There's little on the calendar in Europe to distract from

Trump's post, barring some central bank speakers from around the

region.

Bank of England chief economist Huw Pill is due at the House

of Lords to take questions on Britain's economic health, or lack

of it.

ECB board member Elizabeth McCaul speaks in Frankfurt and

peer Mario Centeno presents the Bank of Portugal's financial

stability report.

Riksbank Deputy Governor Anna Seim joins a seminar in

Stockholm and Bank of Finland Governor Olli Rehn answers

questions in parliament.

Later in the day, the Fed releases minutes of its early

November meeting when it cut rates by a quarter point, following

the first, super-sized half-point cut of the current easing

campaign in September.

Key developments that could influence markets on Tuesday:

- BoE's Pill in upper house

- ECB's McCaul and Centeno speak at separate events

- Riksbank's Seim speaks

- Bank of Finland's Rehn in parliament

- Fed minutes

(Editing by Jacqueline Wong)