Russia's Vladimir Putin warned Europe will quickly "stand at the feet of the master" after U.S. President Donald Trump imposed tariffs on Canada, Mexico and China, provoking a global markets meltdown and alarm among European allies. Following Trump's decision at the weekend to impose trade duties on America's closest trading partners, Russian President Putin said Sunday that Trump's second administration would "restore order" in Europe. "I assure you: Trump, with his character, with his persistence, he will restore order there quite quickly. And all of them, you will see — it will happen...
European stocks sank on Monday after US President Trump announced tariffs on China, Canada, and Mexico, but closed above its mid-session lows after the President delayed measures against Mexico slightly before the bell. The STOXX 50 dropped 1.4% to 5,214 and the pan-European STOXX 600 dropped 0.9% to 534. Trump had imposed 25% tariffs on its North American neighbors and 10% levies on China, in addition to pledges of tariffs on the EU and the UK at a future date, after a series of conflicting signals of protectionism by the administration. Auto manufacturers led the losses amid their high...
Stocks dropped to kick off February after President Donald Trump hit several key U.S. trading partners with tariffs, raising fears that a full-blown trade war would disrupt global supply chains, reignite inflation and slow the economy. The Dow Jones Industrial Average traded more 458 points lower, or 1.1%. The S&P 500 shed 1.5%, and the Nasdaq Composite slid 1.8%. The impact from the new tariffs ricocheted around the globe in a risk-off move. President Donald Trump on Saturday slapped a 25% tariff on goods from Mexico and Canada. He also placed a 10% levy on imports from China. Energy...
Shares in some of Europe's biggest carmakers plunged on Monday after U.S. President Donald Trump imposed new tariffs of 25% on goods from Mexico and Canada and 10% on imports from China, raising concerns about possible duties on EU imports as well. Volkswagen (ETR:VOWG_p) and Stellantis (NYSE:STLA), which have major operations in Mexico and are particularly vulnerable to tariffs, both fell about 6%, the biggest decliners among their peers. Volvo (OTC:VLVLY) Cars, Mercedes Benz (ETR:MBGn), BMW (ETR:BMWG) and Porsche were all down between 3.4% and 5.2% by 0843 GMT. French auto parts...