FX.co ★ European Stocks Tumble for 4th Session

European stocks experienced a fourth consecutive day of losses on Monday, driven by a significant global selloff instigated by President Trump's recent tariff announcements. The Stoxx 50 index tumbled more than 7% at one point, eventually closing 5.4% lower, marking its lowest point since August. Similarly, the Stoxx 600 saw a decline of up to 6% before paring back losses to close down 4.5%, its lowest close since January 2024. Key sectors such as utilities, retail, insurance, financial services, oil and gas, and chemicals all suffered declines exceeding 5%. Global markets faced turbulence during the European afternoon trading session, momentarily rebounding amid speculation of a potential hold on tariffs. However, White House Press Secretary Karoline Leavitt refuted these rumors, calling them "fake news." Adding to the uncertainty, Trump issued a subsequent threat to escalate tariffs on China by an additional 50% unless it withdraws its retaliatory duties.