European shares plunge to 16-month low as China retaliates to Trump tariffs
European stocks tumbled on Monday following a collapse of Asian equities as US President Donald Trump refused to back down on sweeping tariffs after China retaliated in an escalating trade war that many fear could spark a global recession
European stock markets plummeted at the start of trading Monday, with Frankfurt slumping as much as 10 percent as a global sell-off intensified on US President Donald Trump's tariffs.
Indices were in freefall, with Paris diving more than six percent, London sliding nearly six percent, losses of more than five percent in Amsterdam and Oslo and Milan down over three percent.
Earlier Asian equities collapsed on a black Monday for markets after China hammered the United States with its own hefty tariffs, ramping up a trade war that many fear could spark a recession.
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