China jitters, earnings drag Europe's STOXX 600 down 2% to three-month low
Europe's main index plunged 2% to a near three-month low on Tuesday, as concerns over the fate of U.S.-China relations cast a shadow over stocks with significant exposure to the world's No. 2 economy, while some downbeat earnings also weighed.
The STOXX 600 also notched its steepest one-day decline since early August after Monday's 1% jump.
European equities have been under stress as investors assessed the likelihood of tariff increases after Trump's sweeping U.S. presidential victory last week.
China-related assets struggled globally as Trump is expected to tap U.S. Senator Marco Rubio to be his secretary of state, who has in past years advocated for a muscular foreign policy with respect to America's geopolitical foes, including China.
«As he's forming his teams and the names are coming through, the market is having a realization of what could be coming,» said Fiona Cincotta, senior market analyst at City Index.
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