European Stocks Slide for Fourth Session as Trump Hikes Tariffs
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European stocks dropped for a fourth straight session after US President Donald Trump ratcheted up the trade war with Canada. Airline stocks slid after profit warnings from US carriers.
The Stoxx Europe 600 Index fell 1.7% to a five-week low, as Trump said he was doubling the tariffs on Canadian steel and aluminum to retaliate against Ontario’s move to place a levy on electricity sent to the US. Carmaker Volkswagen AG fell 1.1% after earlier rallying on results, while peer Stellantis NV slumped 5.2%.