U.S. stocks opened lower on Tuesday after the Trump administration threatened to slap tariffs on the European Union.
The S&P 500 was down 0.3% to 2,887. The Dow Jones Industrial Average shed 131 points or 0.5% to 26,189. The Nasdaq Composite was down around 0.4% to around 7,919.
The office of the U.S. Trade Representative said it would place import levies on European goods in retaliation against the EU's financial support for aircraft manufacturer Airbus SE.
President Donald Trump said in a tweet that the EU had taken advantage of the U.S. This comes after the U.S. is reportedly in the last stages of negotiations to end its trade spat with China. Shares of Airbus SE was down 2% amid the tariff threat.
Source : Market Watch