European stocks closed slightly lower Tuesday amid heightened geopolitical tensions between the U.S. and Iran, as well as ongoing trade uncertainty.
The pan-European Stoxx 600 closed provisionally just below the flatline at 383.40 . Auto and retail stocks led the losses with 1% declines, while basic resources climbed 0.7%.
President Donald Trump on Monday signed an executive order imposing “hard-hitting” new sanctions on Iran, which NBC News reported will deny Iranian Supreme Leader Ayatollah Ali Khamenei and his office access to key financial resources. Iran slammed the sanctions, saying they signaled the end of diplomacy.
Meanwhile, investors are also awaiting a meeting between Trump and Chinese President Xi Jinping at this week’s G-20 summit in Japan amid the ongoing trade war between the two nations. A senior U.S. official reportedly said Trump is “comfortable with any outcome” from U.S.-Sino talks at the summit.
Source : CNBC