Stocks

Europe suffers more losses on trade war concerns

2019-08-05 17:26:12 GMT (Economies.com)

The European shares open lower in the first session of this week, to head for more losses amid increased worries over the US-China trade wars.

 

Last week, Trump announced that an additional 10% in tariffs will be imposed on Chinese imports worth $300 billion, as he pointed out that this decision will come into effect starting from September 1st.

 

Trump justified the decision on China's stalling and its postponement of an agreement, while not abiding by its pledges which was made during the previous rounds of talks.

 

Otherwise, Trump announced that the US and the EU have reached a deal on the increase American beef purchases by The Europen countries.

 

The Brexit continues to overshadow the markets in the European Union, after British Prime Minister, Boris Johnson, is seeking a no-deal Brexitt.

 

As of 12:32 GMT, Stoxx Europe 600 Index fell by 1.9% (7 points) to 371 points.

 

The British FTSE 100 fell by 2.2% (163 points) to 7,244 points, with Germany's DAX falling by 1.5% (185 points) to 11,687 points.

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