European shares fell on Monday, as cautious investors fled risky bets after U.S. President Donald Trump said that tariffs would target all countries, fuelling fears of a global economic slowdown.The pan-European STOXX 600 index fell 1.

Stock markets in Europe and Asia also fell, after Trump warned all countries will be hit with tariffs on US imports.

European stock markets start with more volatility and losses in the week in which US tariffs are due to come into effect. Monday sees red for the markets: with the imminent implementation of tariffs on imports from the United States (US) on April 2,

Europe is seeking to retain its leverage as President Donald Trump moves to strike a deal with Russia to stop the war in Ukraine. But some of Russia’s key demands — including sanctions relief and the end of military aid to Ukraine — require European buy-in.

The split between Europe and the United States over how to end the war is exposing a new, disorienting reality for an alliance in trouble.

The Kremlin said Russia and the U.S. were working on a possible peace settlement in Ukraine despite President Trump saying that he was "pissed off" with Putin.