Economic news

European stocks dip to two-week low as U.S. tariffs weigh

Worries over global trade sent European stocks sliding to a two-week trough on Thursday as the U.S. are going to announce tough tariffs on China's imports, with tech stocks and banks led the decline.

Photo: Reuters

The pan-European STOXX 600 index slumped 0.6% to 372.62.

Frankfurt's DAX slipped 1% to 12,186.55, Spain's IBEX 35 lost 0.6% at 9,576.60. Paris CAC 40 fell 0.8% to 5,199.38, while the UK's FTSE 100 was down 0.7% at 6,984.15.

Genel Energy lost 1%, though company posted profit of $271 million for the year ended Dec. 31. Shares of HeidelbergCement AG dropped 1.2%, although company reported its net profit increased to 918 million euros in 2017.

The Ifo Institute’s index of German business sentiment sank to 114.7 from 115.4 in February, signaling that businesses’ anxiety over a potential global trade war are hitting optimism even amid the strongest economic expansion in years.


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