European stocks plunged on Friday after U.S. President Donald Trump said he would slap a 10% tariff on the remaining $300 billion of Chinese imports from next month.
The pan-European Stoxx 600 was provisionally down 2.4% at 378.15 by the end of the session, basic resources and auto stocks falling 4.6% and 3.4% respectively as all sectors traded in the red. Tech stocks also among the biggest losers — dropping 3.6%.
Investors are rushing into safe haven assets after President Trump in a tweet on Thursday jettisoned a trade truce between the world's two largest economies while talks over a resolution are ongoing.
Source : CNBC