European alcohol stocks fall, wine and spirits facing 15% US tariffs.

The European wine sector fell, constrained by the EU's announcement that wine and spirits will face a 15% tariff from the US starting on August 1st. Pernod Ricard's stock price fell by 2.5% on the Paris market, while Diageo's dropped by 2.4% on the London market. Both stocks were among the worst performers in the Stoxx 600 Food, Beverage, and Tobacco Index on Thursday. Anheuser-Busch InBev's stock price also declined in the second quarter due to lower than expected sales, dragging down the index as well.