Stock markets plunge on report of new US tariffs on the EU and UK - Business Insider

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Global stocks plunge as investors weigh report on US considering new tariffs on the EU and UK

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.Global stocks fell on Wednesday following a report that the US is set to impose fresh tariffs on European goods, and the number of coronavirus cases around the world continues to surge.Europe indexes extended early losses as investors weighed broad transatlantic trade tensions. The pan-continental Euro Stoxx 50 was down 1.8%.

Futures tied to the S&P 500 fell 0.7% as clusters of new coronavirus infections popped up in certain US states, adding to concerns of a second wave of the virus and new lockdown restrictions on business activity.European stocks extended early losses following "Just as Trump seemed to momentarily put to bed the market's fears surrounding the US-China trade situation, the president tweeted that their deal was intact, a situation seems to be about to flare up between the States and Europe," said Connor Campbell, a financial analyst at SpreadEx.

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