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Europe stocks rebound to close higher after US-China trade war sell-off


Tuesday, 14 May 2019 23:18 WIB

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European stocks traded higher Tuesday as investors began to mitigate the sharp downturn caused by China’s announcement of retaliatory tariffs on U.S. imports.

The pan-European STOXX 600 closed up 0.91% to 376.34 in trade. Sector wise, basic resources and tech led gains, rising 1.74% and1.8% respectively.

Beijing announced Monday that it would raise tariffs on $60 billion worth U.S. goods starting on June 1 as the ongoing trade war between the world's largest economies intensifies. The news triggered a market sell-off, but European stocks began a recovery through Tuesday morning trade.

Source : CNBC


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