Translation. Region: Russian Federal
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
BERLIN, May 23 (Xinhua) — European stocks fell sharply on Friday after U.S. President Donald Trump escalated trade tensions with the European Union by announcing sweeping new tariffs and threatening Apple, reigniting investor fears about the economic impact of a renewed transatlantic trade war.
D. Trump wrote on a social network that he recommends introducing 50 percent tariffs on all goods imported from the EU starting June 1, explaining this decision by the fact that negotiations with Brussels have reached an impasse.
“Trade talks are going nowhere,” the American leader said, adding that the EU “was created with the main purpose of benefiting from trade with the United States.”
Markets reacted swiftly. Europe’s STOXX 600 fell 2.16 percent to 537.39 before paring some of its losses. National indices were also hit hard, with Italy’s FTSE MIB, Germany’s DAX, France’s CAC 40 and Spain’s IBEX 35 all down more than 2 percent. The DAX fell to a two-week low, briefly touching 23,325.5 during the session.
“This latest threat is worse than the worst-case scenario,” said Fiona Cincotta, senior market analyst at City Index. –0–