European stocks retreated on Tuesday, with the STOXX 50 down 1% and the STOXX 600 off 0.8%, giving back some of the previous session’s strong gains. Losses were led by basic resources, autos, banks, and industrials. Renewed concerns over the US–China trade dispute weighed on sentiment, as both countries started charging new port fees on each other's ships today. Corporate updates also drove market moves. BP slipped about 2% after warning of up to $500 million in post-tax impairment charges for the third quarter. Rio Tinto fell 1.4% as its production update disappointed, while LVMH, ASML, and Siemens lost 1.3–2.7% and Michelin plunged 10%. In contrast, Ericsson surged 13% following an earnings beat.