Euro rises with Ukraine optimism while stocks fall on tariff uncertainty | U.S. & World [Video]

By Sinéad Carew and Alun John

NEW YORK/LONDON (Reuters) -Ukraine’s acceptance of a U.S. proposal for a ceasefire with Russia briefly pushed the euro to a five-month high while equities fell in Tuesday’s choppy session as investors worried about a lack of clarity on tariffs.

The euro added to earlier gains and European stock futures pared some losses after Ukraine agreed to an immediate 30-day ceasefire during talks with U.S. officials in Saudi Arabia. However, Russia has not yet responded to the proposal.

While the Ukraine news helped U.S. stock indexes end Tuesday well above their session lows, traders were having to make decisions amid dizzying changes on trade.

Earlier on Tuesday, President Donald Trump added to economic jitters by saying he told his commerce secretary to add an additional 25% tariff on all steel and aluminum imports from Canada, bringing the total tariff on those products to 50%.

But the U.S. appeared to have reversed …