MILAN (Reuters) – A gauge of euro zone equity volatility surged to a fresh seven-month high and European stocks fell further on Tuesday after the latest tariff news underscored concerns over growing trade tensions.
Trump on Tuesday doubled his planned tariff on all steel and aluminum products from Canada, and threatened to “substantially increase” tariffs on cars coming into the United States.
The euro STOXX equity volatility index spiked to its highest since early August on the news and was last up 1 point at 24.8.
European shares extended their drop, with the region-wide STOXX 600 down 1.7% to near five-week lows, and auto stocks down 2.6%.
(Reporting by Danilo Masoni, editing by Alun John)
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