European stocks fell as President Donald Trump’s new 10% global tariffs came into effect, adding to investor uncertainty amid mixed earnings reports.
The Stoxx Europe 600 Index was down0.3%at8:18 a.m.in London. The automakers and chemicals sectors were leading gains, while insurance and banks shares lagged.
In individual stocks, Novo Nordisk A/S dropped 3.8% following a slew of analyst downgrades as data for its next-generation obesity shot CagriSema disappointed.
Europe’s benchmark index scaled all-time highs on Friday following the US Supreme Court’s ruling striking down Trump’s global tariffs. However, investors remain cautious amid ongoing trade uncertainty, with a new 10% levy taking effect Tuesday. The European Union has warned that some tariffs under the new policy will exceed the level permitted under the EU–US trade agreement.
Meanwhile, uncertainty is still lingering about sectors deemed to be at risk of disruption from artificial intelligence. The technology-heavy US Nasdaq 100 slumped 1.2% on Monday.
“It’s hard to be confident on the trajectory of European stocks as some of the issues around trade uncertainty with the US remain,” said Emma Moriarty, portfolio manager at CG Asset Management, adding that investor confidence remained fragile and “could easily drift back into risk-off territory.”
The focus on Tuesday will be on an event hosted by AI tools maker Anthropic PBC, before attention turns to Nvidia Corp.’s earnings later this week.
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With assistance from Michael Msika and Sagarika Jaisinghani.
This article was generated from an automated news agency feed without modifications to text.
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