European Stocks Fall as U.S., China Trade Tensions Intensify
(Bloomberg) -- European equities fell at the open, ending six days of gains, as trade tensions between the U.S. and China intensified again after the Trump administration unveiled plans for further tariffs on Chinese goods.
The Stoxx Europe 600 Index dropped 0.7 percent, led lower by basic resources, technology and construction companies as base metals and oil sank. Steelmakers and tech firms have been among the sectors most hit by the trade spat so far.
The U.S. released a list of targets as it plans to impose tariffs on additional $200 billion in Chinese products and said they could take effect after public consultations end on Aug. 30. Beijing vowed to fight back and urged other countries to join in to protect free trade.
Earlier stocks in Asia declined and U.S. futures also fell, pointing to the end of investors positive sentiment about the corporate-earnings season.
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