Stoxx 600 Slips 0.23% as U.S. Floats 12.5% Tariffs on 60 Trading Partners
Updated
Updated · CNBC · Jun 3
Stoxx 600 Slips 0.23% as U.S. Floats 12.5% Tariffs on 60 Trading Partners
3 articles · Updated · CNBC · Jun 3
Summary
European shares opened lower Wednesday, with the Stoxx 600 down 0.23%, France’s Cac 40 off 0.3% and Germany’s Dax falling 0.8%.
The move followed a U.S. Trade Representative proposal to impose additional tariffs of up to 12.5% on 60 economies, including China, the EU and Japan, over alleged failures to block forced-labor goods.
Investors were also tracking renewed U.S.-Iran war tensions after Washington accused Tehran of fresh attacks despite a ceasefire still being in place.
Akzo Nobel was set to drop 20% after a proposed takeover by Nippon Paint and Sherwin-Williams collapsed, while Inditex reported first-quarter sales up 5.8% to 8.7 billion euros and net profit up 5.4%.