European stocks dip after China warns on shipping
European equities fell as Beijing warned of further measures over US restrictions on its shipping sector, while investors reacted to corporate earnings.
The Stoxx Europe 600 was down 0.5%. Market participants cited fresh tension after China imposed initial restrictions on five U.S.-linked subsidiaries of Hanwha Ocean, a major South Korean shipbuilder, in response to US curbs affecting China’s shipping industry. Autos and mining stocks were among the biggest decliners while telecom names outperformed.
Ericsson rose about 15% after reporting third‑quarter earnings that more than doubled year on year and completing the sale of its numbering, interconnection and routing services subsidiary iconectiv. French tyre maker Michelin dropped 8.5% after issuing a profit warning linked to much weaker performance in North America.
Ericsson rose about 15% after reporting third‑quarter earnings that more than doubled year on year and completing the sale of its numbering, interconnection and routing services subsidiary iconectiv. French tyre maker Michelin dropped 8.5% after issuing a profit warning linked to much weaker performance in North America.
In Italy, authorities are seeking about €2.8 billion from banks to help fund the next budget, keeping some regional lenders in focus. Meanwhile, rare-earth stocks surged as a fresh round of the U.S. – China trade war unfolded.
Beyond equities, cross-asset signals also flashed caution. The euro edged up as the dollar softened on renewed trade jitters, while haven currencies firmed. German 10-year Bund yields hovered near ~2.63%, hinting at a mild bid for safety as cyclicals lagged.
Guillermo Hernandez Sampere, head of trading at asset manager MPPM, warned that recurring tariff disputes have heightened market nervousness and highlighted the fragility of the current sense of security. Attention on markets also increased ahead of a slate of US bank earnings due later in the day, including JPMorgan Chase, Goldman Sachs, Citigroup and Wells Fargo.
Earlier, Michael Wilson, Morgan Stanley’s chief U.S. equity strategist, said the S&P 500 could fall about 8–11% from its recent close if U.S.–China trade tensions and tariff threats persist into early November.
Guillermo Hernandez Sampere, head of trading at asset manager MPPM, warned that recurring tariff disputes have heightened market nervousness and highlighted the fragility of the current sense of security. Attention on markets also increased ahead of a slate of US bank earnings due later in the day, including JPMorgan Chase, Goldman Sachs, Citigroup and Wells Fargo.
Earlier, Michael Wilson, Morgan Stanley’s chief U.S. equity strategist, said the S&P 500 could fall about 8–11% from its recent close if U.S.–China trade tensions and tariff threats persist into early November.
