Unlock the White House Watch newsletter for free
Your guide to what the 2024 US election means for Washington and the world
European stocks tumbled and currencies slid against the dollar on Tuesday as investors fretted over the impact of a more hawkish approach to China under a second Trump presidency.
The benchmark Stoxx Europe 600 index lost 2 per cent, its worst one-day performance since the market rout in early August. Paris’s Cac 40 finished down 2.7 per cent, while Frankfurt’s Dax shed 2.1 per cent.
The US dollar extended its gains following last week’s presidential election. The dollar index was up 0.6 per cent against a basket of six peers.
Sterling shed 1.1 per cent to $1.273 and the yen to ¥154.90, their lowest levels since early August. The euro dropped 0.5 per cent to $1.06, its weakest level in a year.
The moves followed reports that US senator Marco Rubio, an Iran and China hawk who serves on the Senate foreign…
