The euro has fallen on this headline.

The EU had proposed to the US a regime of reciprocal zero tariffs on autos and industrial goods but that evidently didn't gain any traction with the US. That's evidently been rejected, though the US did hint at a way forward with Europe buying more US goods.

There is also a report from earlier suggesting the US was asking for Europe to isolate China in return for lower tariffs.

In any case, the picture isn't looking good and the euro fell.

EURUSD 5 mins
EURUSD 5 mins

The S&P 500 has also turned negative a short time after hitting a session high of +0.8%.

Source: Forex Live