India, Aug. 1 -- European stocks tumbled on Friday, recording one of their worst sessions in several months, as sweeping fresh tariffs announced by U.S. President Donald Trump raised fears of a global economic slowdown, prompting investors to press selling across the board.
Trump announced sharply higher tariffs, ranging from 10 to 41% on dozens of countries, including Canada and Switzerland, and also confirmed a 15% tariff on EU imports.
India, Brazil and Canada faced steep tariffs as President Donald Trump pushes to rebalance deficits and protect American manufacturing, citing national security.
Pharma stocks were under pressure after Trump asked 17 major global pharmaceutical companies to lower drug prices in the U.S.
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