European stocks fell on Monday after President Donald Trump dialed up trade tensions by announcing a 30% tariff on goods from the region.
The Stoxx Europe 600 Index fell 0.5% as of 8:20 a.m. in London.
The consumer and auto sectors were the biggest laggards.
Following renewed tariff pressure from Trump, the European Union is getting ready to step up its engagement with other countries hit by levies.
The region's benchmark is still up slightly in July, with investors turning their attention to the impact of duties on earnings.
"While 30% tariffs on the EU sound scary, they are sure to change in coming weeks, which is why investors remain relatively calm so far," said Joachim Klement, head of strategy, economics and ESG at Panmure Liberum.
Source: Bloomberg
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