European stocks close lower as US-China trade tensions escalate
Friday, 23 August 2019 23:19 WIB | MARKET UPDATE |Indeks Stoxx Europe 600Saham Eropa

European stocks closed lower on Friday as trade tensions between the world™s two largest economies heightened.

The pan-European Stoxx 600 closed 0.7% lower to 371.36, with most sectors in negative territory. Autos stocks suffered sharp losses by the close, slumping around 2%.

The Chinese State Council said it decided to slap tariffs ranging from 5% to 10% on the additional imports in two batches, effective on September 1 and December 15. A 25% tariff will also be places on U.S. cars and 5% on auto parts, with effect from December 15.

Source: CNBC

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