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European Stocks Sink as EU, China Retaliate on Trump’s Tariffs

(Bloomberg) -- European stocks fell to the lowest since January 2024 as the EU and China retaliated with higher tariffs on the US, escalating President Donald Trump’s trade war.The Stoxx Europe 600 Index tumbled 3.5% by the close, with about 97% of its constituents in the red. Health care, energy and real estate stocks fell the most.The European Union approved tariffs on €21 billion ($23.2 billion) of US goods in retaliation for the 25% duties Trump imposed last month on the bloc’s steel and alu

Investors Flee Oil Bear Fund in Biggest Move Since 2020

(Bloomberg) -- An exchange-traded product tied to declines in the oil market just saw its biggest outflow of funds since 2020. With crude prices crashing to a four-year low, some investors pulled out of the fund to cash in on profits.Oil has been hit by the one-two punch of OPEC+ choosing to ramp up output hours after US President Donald Trump last week unveiled a spate of trade policies that were especially punishing to major crude-importing economies, including China and India. Futures in New