Global markets fall as traders take fright at news of new US tariffs
European share markets follow Asian counterparts lower amid the expectation that the US will announce a new round of tariffs on Chinese goods
London — European share markets followed Asian counterparts lower on Monday as investors took fright at news Washington was set to announce a new round of tariffs on Chinese goods in the latest escalation of their trade conflict. US President Donald Trump’s expected announcement of new tariffs on $200bn in Chinese goods drew an immediate threat of reprisals from Beijing. The months-long trade conflict between the world’s two largest economies has rattled investors who fear an escalation will eventually whack global growth, while talks between the two countries have failed to make much headway. The pan-European Stoxx 600 index fell as much as 0.2%, while Germany’s DAX, home to large exporters and carmakers, dropped 0.5%. France’s CAC 40 and Britain’s FTSE 100 fell 0.2% and 0.1% respectively. Europe’s Stoxx 600 had last week enjoyed its best weekly gain since July as the Turkish central bank’s interest rate rise brought a broad relief rally, but the mood was less buoyant on Monday. Ho...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.