European stocks skidded firmly lower Thursday as trade tensions between the U.S. and China appeared to meet with fresh escalation escalations. with Germany’s main benchmark dragged lower by concerns about the impact of tariff action.Disappointing earnings updates from Siemens AG and BMW AG added to the downbeat mood.
Investors also were bracing for a monetary policy decision from the Bank of England, which is expected to raise interest rates for only the second time in about a decade.
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Trade tensions between U.S. and China returned to the fore after President Donald Trump’s administration threatened late Wednesday to raise the proposed tariffs on $200 billion of Chinese goods to 25%, more than double the 10% originally laid out.
Concerns about the possible hit to exporters helped to partly pressure lower Germany’s main benchmark, the DAX.
After the U.S. Federal Reserve on Wednesday released a policy statement seen as somewhat lackluster by analysts, central-bank attention should turn to the BOE Gov. Mark Carney “Super...