European stocks fell Tuesday on the back of a fresh tariff threat from the United States government.
The pan-European Euro Stoxx 600 index closed 0.47% lower to 385.68, with most sectors and bourses in negative territory. It comes after U.S. Trade Representative Robert Lighthizer on Monday proposed a list of European Union products on which to slap tariffs as retaliation for European aircraft subsidies, with Airbus down nearly 2%.
Breaking from the overall negative sentiment, Alcon, which was spun off from drug maker Novartis Tuesday, surged 40 percent following its debut on the SIX Swiss Exchange. Novartis, on the other hand, dropped 2 percent.