54 min ago
European Stocks Slump Amid Fears Trump Tariffs Will Hit Them Next
Stocks were tumbling across the Atlantic on Tuesday after U.S. President Donald Trump's tariffs on Canada and Mexico took effect, stoking investors' fear that Washington could soon impose similar levies on the European Union.
The continent's flagship Stoxx 600 index dropped 1.2% in morning trading. London's FTSE 100 fell 0.3%, Paris's CAC 40 slid 1.3%, and Frankfurt's Dax plunged 2.1%.
Car makers were dragging on the German index, with the new round of restrictions likely to have an outsize impact on that sector. Mercedes-Benz stock was down 4.4%, Volkswagen dropped 3.9%, and BMW fell 5.5%.
