This is CNBC's live blog covering European markets.

European markets opened lower Wednesday as investors continued to assess the potential impact of President-elect Donald Trump's plans to hike tariffs.

The pan-European Stoxx 600 index opened 0.2% lower with most sectors in negative territory.

Shares of Easyjet were up 2.4% at the open after the budget airline posted a 25% rise in full-year operating profit but shares of Aston Martin were down 4% after the luxury carmaker issued another profit warning.

Trump said Monday that one of his first acts in office would be to impose an additional 10% tariff on all Chinese goods entering the U.S., and threatened a 25% tariff on products from Mexico and Canada, ending a regional free trade agreement.

Economists have warned of the potential inflationary impact of Trump's fiscal plan, which could see the U.S. Federal Reserve cutting interest rates at a slower pace.

Overnight, Asia-Pacific markets were mixed Wednesday, following gains on Wall Street that saw the S&P 500 and the Dow Jones Industrial Average reach new intraday and closing records.

U.S. stock futures were little changed on Wednesday morning as traders await the release of the Fed's favorite inflation gauge: the personal consumption expenditures price index.

Earnings are set to come from Easyjet and data releases include German and French consumer confidence.

'Europe's Detroit' threatened by Trump's potential tariffs

A small landlocked country in the heart of Europe appears to be uniquely exposed to President-elect Donald Trump's "America First" economic agenda.

Nicknamed the "Detroit of Europe" due to its thriving automotive industry, Slovakia produces more cars per capita than any other country in the world.

Trump's pledge to impose a blanket 10% or 20% tariff on all goods coming into the U.S. threatens to tarnish the central European country's reputation as a global leader in car production.

Read more on the story here: 'Europe's Detroit' built a thriving car industry. Trump tariffs now threaten to unravel its success

— Sam Meredith

EasyJet full-year operating profit rises 25% — but is still lower than expected

Budget airline easyJet posted a smaller-than-expected annual operating profit, citing an impact from the conflict in the Middle East.

The airline reported an operating profit of £597 million ($750.5 million) for the 12 months to Sept. 30, up 25% year-over-year. Still, the figure was less than the £625.6 million expected by analysts, according to an LSEG-compiled poll cited by Reuters.

In a statement, easyjet said earnings were impacted by the outbreak of conflict in the Middle East, "which resulted in the cancellation of a number of flying routes and the associated costs incurred and revenue forgone," as well as volatile and rising fuel prices.

For the current fiscal year ending September 2025, the airline expects a capacity of around 103 million seats, an increase of 3% from the previous year.

"The airline will continue to grow, particularly on popular longer leisure routes like North Africa and the Canaries and we plan to take 25% more customers away on package holidays," CEO designate Kenton Jarvis, who is replacing Johan Lundgren next year, said in a statement.

"The outlook for easyJet is positive and travel remains a firm priority with consumers who value our low fares, unrivalled network and friendly service," commented Kenton Jarvis, easyjet's chief financial officer who's set to replace CEO Johan Lundgren next year.

"The airline will continue to grow, particularly on popular longer leisure routes like North Africa and the Canaries and we plan to take 25% more customers away on package holidays."

— Holly Ellyatt

Aston Martin expects lower full-year core profit as delivery delays bite

British luxury carmaker Aston Martin on Tuesday forecast its annual core profit to fall short of 2023 levels as delivery delays in the ultra-exclusive Valiant models weigh on its margins.

The company expects its 2024 adjusted EBITDA to be in the range of 270 million pounds to 280 million pounds ($338.55 million - $351.09 million) compared to 305.9 million pounds last year.

The carmaker said it now expects to deliver only half of the 38 Valiant models by year end, previously guided to be the majority.

"We are already taking decisive actions to better position the Group for the future including a more balanced production and delivery profile in the coming quarters," CEO Adrian Hallmark said in a statement.

Aston Martin, which has been hit by persistent depressed demand in China and supply disruptions leading to manufacturing delays, had cut its production forecast by about 1,000 vehicles in September.

The Gaydon, UK-based company reported a smaller-than-expected third-quarter loss last month, aided by strategic steps taken to mitigate losses.

The company reiterated its focus on 2025 targets, including delivering about 2 billion pounds in revenue and targeted free cash flow generation. As part of the efforts to bolster its finances, Aston Martin also announced plans to raise about 210 million pounds through an equity and debt offering.

— Reuters

CNBC Pro: 'Cargojet is expensive': Short seller bets against Canada's largest cargo airline

A London-based hedge fund is betting against Cargojet, Canada's largest cargo airline, citing concerns about the company's aging fleet, accounting practices, and leadership style. The company did not respond to requests for comment from CNBC Pro.

Edgar Allen, founder and chief investment officer of High Ground Investment Management, revealed his firm's bearish stance on Cargojet during the Sohn investment conference earlier this month.

CNBC Pro subscribers can read more here.

— Ganesh Rao

CNBC Pro: U.S., China and more: Value investor reveals what to buy as Trump tariffs loom

News that U.S. President-elect Donald Trump's plans to hike tariffs on imports from China, Canada and Mexico sent ripples across global markets Tuesday.

Peter Boockvar, chief investment officer at the U.S.-headquartered Bleakley Financial Group, revealed his take on the tariffs, as well as sectors — and stocks — he is watching globally.

CNBC Pro subscribers can read more here.

— Amala Balakrishner

European markets: Here are the opening calls

European markets are expected to open in mixed territory Wednesday.

The U.K.'s FTSE 100 index is expected to open 5 points higher at 8,267, Germany's DAX down 21 points at 19,285, France's CAC down 39 points at 7,160 and Italy's FTSE MIB down 173 points at 33,150, according to data from IG.

Earnings are set to come from Easyjet and data releases include German and French consumer confidence figures.

— Holly Ellyatt