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European markets open sharply lower after Trump stokes recession fears


Friday, 31 May 2019 14:17 WIB

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European stocks opened sharply lower Friday morning after U.S. President Donald Trump announced plans to impose a 5% tariff on all Mexican imports from June 10, stirring fears of a global recession.

The pan-European Stoxx 600 tumbled 0.9% immediately after the opening bell, autos leading the losses with a 2.4%% drop.

President Trump announced the sweeping tariffs on Mexican goods Thursday afternoon in response to what he claimed is a “border crisis,” throwing the fate of the United States-Mexico-Canada Agreement, or USMCA, into question.

Source : CNBC


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