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