European markets open low amid fears of renewed global trade war

European markets open low amid fears of renewed global trade war

European shares opened lower on Friday morning amid growing fears of a global trade war between the world’s two largest economies.

The STOXX 600 index of European securities fell about 0.30 percent shortly after the opening bell, with all sectors and major exchanges in the negative region.

The market’s focus is largely on global trade developments, following a report that President Donald Trump may be preparing to escalate a trade dispute with China. Investors were also worried about emerging-market currencies after the Argentine peso continued to decline in the previous session.

On Thursday, Bloomberg said Trump’s management was ready to impose further tariffs on $ 200 billion worth of goods from Beijing as early as next week. The US president also threatened to withdraw the United States from the World Trade Organization (WTO) if it was not “formed.”