European stocks tumble, bonds rally after Trump recommends 50% tariff on EU
European stocks tumbled, the euro gave back some gains, and euro zone government bond yields fell sharply on Friday after U.S. President Donald Trump said he is recommending a straight 50% tariff on goods from the European Union starting on June 1. Trump's remarks in a social media post, brought a sudden halt to investors expectations that the bulk of tariffs Trump announced in early April would be negotiated away, a view which had supported stocks market gains in recent weeks. U.S. S&P 500 futures also fell around 1.5%, as investors also worried that the tariffs would hurt U.S. and global growth.