European stocks fell on Tuesday, with the STOXX 50 down 1% and the STOXX 600 down 0.8%, after posting sharp gains in the previous session. The mining, automotive, banking, and industrial sectors led the decline due to renewed concerns over the US-China trade dispute. Both countries began imposing new port fees on each other's ships, fueling concerns about the outlook for global trade.
On the corporate side, several earnings reports soured market sentiment. BP fell around 2% after warning of a potential impairment charge of up to $500 million in the third quarter, while Rio Tinto fell 1.4% on disappointing production reports. Shares of giants like LVMH, ASML, and Siemens also fell between 1.3% and 2.7%, and Michelin plunged as much as 10%. Conversely, Ericsson surged 13% after reporting earnings that beat market expectations. (asd)
Source: Newsmaker.id
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