European stocks set for another lower open as tariff uncertainty dents sentiment

Good morning from London, and welcome to CNBC’s live blog covering all the action and business news in European financial markets on Tuesday.

Futures data from IG suggest a negative start to the new trading week for European bourses, with London’sFTSE 100 seen opening 0.3% lower, France’s CAC 40 down 0.3%, Germany’sDAX down 0.4%, and Italy’sFTSE MIB 0.4% lower.

European bourses have been on edge since U.S. President Donald Trump announced earlier in July that he would impose a 30% tariff on goods imported from the EU starting Aug. 1. The EU said it hopes to strike a trade deal before then but an agreement remains elusive. The bloc’s policymakers are reportedly considering retaliatory measures if a deal can’t be reached.

U.S. Treasury SecretaryScott Bessentsaid Monday that implementing high tariff rates on countries startingAug. 1“will put more pressure on those countries to come with better agreements.”

— Holly Ellyatt

U.S. stock futures were little changed early Tuesday after the S&P 500 and Nasdaq Composite hit fresh records in Monday’s trading session.

TheS&P 500rose about 0.1% and theNasdaq Compositeadvanced nearly 0.4% yesterday, with both indexes hitting new all-time intraday highs and closing at records, aided by a pre-earnings jump inAlphabet. TheDowunderperformed and ended the day marginally lower.

Meanwhile, Asia-Pacific stocks traded mixed overnight, withJapanese stocks reopeninghigher after the ruling coalition lost its majority in the upper house over the weekend.

— Holly Ellyatt