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European stocks sink on tariffs threats

A deepened protectionist trade dispute between the U.S. and China - two biggest world's economies - boosted a selling in European markets on Tuesday with autos, mining and technology stocks leading the decline.

Photo: Reuters

The pan-European STOXX 600 slid 1.1 percent to 381.51, on track for a third session of losses in a row.

The DAX 30 index in Frankfurt, shed 1.6 percent to 12,627.07, after slumping 1.4 percent in the previous session. Paris CAC 40 index lost 1.2 percent to 5,385.06.

Spain’s IBEX 35 fell 1.3 percent to 9,639.30, and the UK’s FTSE 100 declined 0.9% to 7,591.63. Italy’s FTSE MIB index sank 1.5 percent to 21,790.06.

Autos stocks led the decline, with such major players as Daimler, Volkswagen and BMW down 1.5 to 2.7 percent.

Mining shares dropped 2.1 percent, following a slump in London copper prices due to the intensifying trade tensions.

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