European Stocks Sink as EU, China Retaliate on Trump’s Tariffs

European stocks fell to the lowest since January 2024 as the EU and China retaliated with higher tariffs on the US, escalating President Donald Trump’s trade war.

The Stoxx Europe 600 Index tumbled 3.5% by the close, with about 97% of its constituents in the red. Health care, energy and real estate stocks fell the most.

The European Union approved tariffs on €21 billion ($23.2 billion) of US goods in retaliation for the 25% duties Trump imposed last month on the bloc’s steel and aluminum exports. China said it would raise the tariff on US goods to 84% from 34%, effective ...