European markets are hit by the US-China conflict
European stock futures dropped on May 4. Investors returned from the May holiday to a new crisis - this time it is the new US-China conflict.
By 06:13. The Euro Stoxx 50 lost 3.3%. The weak start of the month follows a 6% growth last month.
Meanwhile international relations are complicated by the discussion about the coronavirus origins. US Secretary of State Mike Pompeo claimed to have “significant” evidence that the virus escaped from a lab in Wuhan. Beijing has also been accused of hiding the information about the virus in the beginning of last December. China has so far refuted all allegations.
President Trump threatened to introduce new tariffs, negating the results of the earlier negotiations. The news impacted the markets across the world.