India, March 4 -- European stocks declined on Tuesday, after having hit a record high in the previous session led by defense-related stocks.
Trade tensions weighed on markets after U.S. President Donald Trump's long-threatened tariffs against Canada, Mexico and China went into effect today.
Canada announced 25 percent tariffs on $107 billion worth of U.S. goods, with $20.7 billion in immediate effect. Mexican President Claudia Sheinbaum said her country is preparing countermeasures.
China has announced 15 percent tariffs on U.S. chicken, wheat, corn and cotton, plus 10 percent cent tariffs on soybeans, pork, beef and dairy beginning March 10.
The pan European STOXX 600 dropped 0.9 percent to 558.28 after rallying 1.1 percent in the prev...