Wall Street futures tumbled 3.1% as investors shed riskier assets
International news via Reuters:
European shares slumped to a two-month low on Thursday after a fresh round of aggressive U.S. tariffs, with bank stocks bearing the brunt of fears that the escalating trade war would slam the brakes on economic growth.
The pan-European STOXX 600 has sunk 1.5% by 0753 GMT. The rout was led by a 1.8% slide in equities in Germany, whose biggest trading partner last year was the U.S., according to the statistics office.
Wall Street futures tumbled 3.1% as investors shed riskier assets in favour of safe-haven bonds and gold.
U.S. President Donald Trump’s move to slap a 10% tariff on most U.S. imports effectively raised the rate of levies on the European Union to 20% and on China to 54%, with both trading partners vowing countermeasures.
