Indices fell back into the red, with Paris down 2.4 percent and Frankfurt dropping 2.2 percent, as goods from the European Union now face a 20 percent tariff when entering the United States.

European stock markets sank at the open on Wednesday as US President Donald Trump’s steep new tariffs came into effect and triggered a fresh sell-off in global equities.

Indices fell back into the red, with Paris down 2.4 percent and Frankfurt dropping 2.2 percent, as goods from the European Union now face a 20 percent tariff when entering the United States.

London slid 2.3 percent, with Britain having been hit with a 10 percent levy on Saturday.