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Escalating trade tensions drive Europe markets further into the red

Dave Morris
Escalating trade tensions drive Europe markets further into the red

Germany’s DAX (DAX)(DX:DAX) took the brunt of the trade-related declines (Germany is a key trading partner of China’s), falling 1.5% and wiping out Friday’s 0.7% gain. Monday’s heavy losses across U.S. stocks that spread to Europe came after China retaliated over U.S. President Donald Trump’s decision last week to lift tariffs on China imports. The dig at U.S. President Donald Trump and his team, who have accused China of changing its stance midway through the negotiations, came as Trump economic adviser Larry Kudlow broke from the president in admitting that tariffs would hurt both sides.