No news wasn’t good news for U.S. financial markets, which languished Tuesday as Europe refused once again to renegotiate American trade agreements until President Trump permanently exempts the 28-nation block from sweeping metals tariffs.

His administration’s decision Monday to refrain from applying the duties of 25 percent on steel and 10 percent on aluminum for another month merely “prolongs market uncertainty, which is already affecting business decisions,” European trade commissioner Cecelia Malmstrom said in a statement. “We will not negotiate under threat.”