European stocks closed loser for a third session of Wednesday amid the lingering threat of tariffs from the US and their growing impact on corporate guidance. The STOXX 50 slipped 0.8% to close at 5,315 and the STOXX 600 fell 0.5% to 543. ASML tanked 11.4%after the company warned of no growth potential in 2026, citing macroeconomic and geopolitical uncertainties, including the risk of tariffs on new systems and parts shipped to the US and potential retaliatory measures from other countries. Despite these concerns, ASML beat Q2 estimates on both revenue and earnings. Also, Renault plunged 18.5% after cutting its margin outlook for the year. Consequently, other auto producers closed sharply lower with Stellantis sinking 6.5% due to its large exposure to French auto demand. Meanwhile, trade tensions remained in focus, with President Trump stating he may impose tariffs on pharmaceuticals by the end of the month, and suggesting that levies on semiconductors could follow soon.