India, May 23 -- European stocks closed on a weak note on Friday despite staging a fairly strong recovery past mid afternoon. After staying modestly higher till noon, the major European markets tumbled after U.S. President Donald Trump threatened to impose 50% tariffs on imports from the European Union from June 1st.
"The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with," Trump wrote on his social media platform, Truth Social.
Encouraging German GDP data and UK retail sales report and consumer confidence data helped limit markets' downside to some extent.,The pan European Stoxx 600 ended down 0.93%. The U.K.'s FTSE 100 closed just 0.24% down, t...