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• European stocks were mostly lower on Monday morning, as investors braced for the ramifications of another round of tariffs from the two major economies.
The pan-European Stoxx 600 was off by 0.22 percent with almost every sector in the red. Basic resources and autos were the worst-performers in early deals following renewed uncertainty over U.S.-China trade relations. Monday marks the day when the latest round of tariffs — which target products from both the U.S. and China — come into effect.
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• Asian shares stumbled in holiday-thinned trading on Monday as China’s decision to cancel talks with the United States sparked fears of a protracted trade war, while oil rallied as Saudi Arabia ruled out increasing supplies to cool crude prices.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell almost 1 percent. Hong Kong was the worst performer with its Hang Seng index down 1.7 percent.
• The markets in Japan, South Korea and China are closed for public holidays on Monday.
Reference: Reuters, CNBC
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