European stocks and currencies tumble on Trump tariff fears

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Financial Times 1w ago

European stocks and currencies tumble on Trump tariff fears - Financial Times

Quick Summary:

European stocks tumbled and currencies slid against the dollar on Tuesday as investors fretted over the impact of a more hawkish approach to China under a second Trump presidency.

China is also going to be hurt quite a bit as it has been singled out as the main tariff target,” said Tomasz Wieladek, chief European economist with T Rowe Price.“It is almost like a redistribution of the rest of the world’s growth into the US economy,” he added.

Laura Cooper, head of macro credit at asset manager Nuveen, said the market was pricing in the risk of reflation.“There is limited upside in yields as we’re going to lack a political policy catalyst [for some time],” she said.