Europe Stocks Slide, Led by Autos, as New Trump Tariffs Loom
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European stocks plunged, led by the auto sector, as U.S. President Donald Trump said a new round of tariffs on Chinese goods was “ready to go” and that China and the European Union were manipulating their currencies.
The Stoxx Europe 600 declined as much as 0.9 percent, led by cyclical sectors including carmakers and miners, while the VStoxx jumped. Trump said on Twitter the EU was among those that had been manipulating their currencies, after earlier saying in an interview on CNBC the U.S. is ready to impose levies on all $505 billion of Chinese imports into the U.S.