Escalating tariff war hits Europe's autos stocks and multinationals
Helen Reid | June 19, 2018
European shares extended a sell-off on Tuesday as a trade war between the United States and China escalated, with autos, mining and technology stocks taking the brunt. Europe's main equity benchmark, the STOXX 600, fell for the third straight session, down 0.7 percent, after U.S. President Donald Trump threatened to impose a 10 percent tariff on $200 billion of Chinese goods, following Beijing's decision to raise tariffs on $50 billion in U.S. goods. "For now we are talking about the U.S. and China, not Europe directly, but certainly overall it's a de-risking because global trade integrates everything," said Britta Weidenbach, head of European equities at DWS.