European stocks fell down amid US-China trade war | Eurasia Diary -

17 August, Saturday

European stocks fell down amid US-China trade war

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The fierce derived from US-China trade battle influenced European stocks negatively. China announced ready to use its supply of rare metals. The pan-European STOXX 600 fell to 1.2% reached the lowest point since March 11.

Apart from this, the decreased value of the stock was recorded in technology, construction and materials, retail and bank sectors by 1.5% during the morning session, CNBC reported.

Italy’s dispute over its budget with the European Union led 1.3% decrease in the bank sector. Auto and mining stocks fell 1% and 1.7% each, Reuters reported.

The trade war is the main reason for destabilizing in the global economic market which hit the EU.

“The worst part of the current trade tension between China and the US is having created uncertainty in the global economy,” said Luigi Gambardella, president of ChinaEU, an international association in Brussels that promotes digital and internet cooperation, Jakarta Post reported.


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