European Stocks Tumble Amid Uncertainty Over China's Stimulus

European stocks reached two-week lows due to a lack of details on China's stimulus. The STOXX 600 index dropped nearly 1%, affected by declines in mining and luxury sectors tied to China. Additional impacts included tariff measures on EU brandy imports, further pressuring stock values.

European stocks plummeted to two-week lows on Tuesday as uncertainty surrounding China's stimulus measures triggered a sell-off in sectors closely linked to the world's second-largest economy, notably mining and luxury industries.

The pan-European STOXX 600 index fell by nearly 1% at 0714 GMT, marking its lowest levels since September 23. Luxury giants such as LVMH, Kering, Burberry, and Hermes saw declines ranging from 3.1% to 5% due to their heavy revenue reliance on China.

Adding to the market's woes, spirits companies Remy Cointreau and Pernod Ricard faced decreases of 5% and 2.8%, respectively, following China's provisional anti-dumping measures on European Union brandy imports. The mining sector also took a hit, falling 3.7% as copper and iron ore prices slid amid waning optimism over China's economic stimulus.

(With inputs from agencies.)