European stocks retreat, travel stocks down 3.4%

European markets declined on Monday morning as investors continue to watch rising diplomatic tensions between the U.S. and China, while travel stocks tumbled after the U.K. imposed quarantine measures on people returning from Spain.

The pan-European Stoxx 600 fell 0.5% in early trade, with travel and leisure stocks tumbling 3.2% to lead losses while basic resources bucked the trend to add 0.5%.