European markets retreat with eyes on U.S.-China trade talks

European stocks have retreated through Monday’s session, with the regional Stoxx 600 index 0.28% lower at 1:58 p.m. in London and all major bourses in the red.

Chinese-owned video app TikTok on Monday announced it’s opening a new office in London, doubling down on its investments in the U.K.

TikTok, which is owned by China’s ByteDance, said it’s developing a new 135,000 square foot office in London’s Barbican district. It is slated to open in early 2026.

The space will complement TikTok’s existing 88,500 sq ft head office in Farringdon, which the tech giant opened in 2022, and takes TikTok’s overall U.K. infrastructure investment to £140 million ($189.5 million).

Alongside its announcement of a new office, TikTok also committed to add 500 new jobs in the U.K., which would take its overall headcount in the country to 3,000.

Global investors are awaiting updates from the U.S.-China trade talks, which begin in London Monday. U.S. National Economic Council Director Kevin Hassett told CNBC on Monday he expected it “to be a short meeting with a big, strong handshake,” as Washington seeks confirmation China will restore the flows of critical minerals.

The euro and the British pound were both last trading around 0.1% higher against the U.S. dollar.