European stocks decline after China retaliates against US

European stocks retreated after early positive trading, as a volatile week for stocks drew to a close and concerns about a trade war between the United States and China persisted.

The European STOXX 600 index fell 1.3%, the UK’s FTSE 100 fell 0.4%, and the German DAX and French CAC 40 indices traded in the red, down 1.7% and 1.3%, respectively.

China responded to the tit-for-tat tariffs imposed by US President Donald Trump by raising the tariff rate on US goods from 84% to 125%, according to a statement by the Customs Tariff Commission of the State Council on Friday.