The European Union was put on notice that Beijing plans to retaliate against the bloc’s newest sanctions. China’s Ministry of Commerce said that last week’s EU penalties against two banks and five companies seriously harmed trade, economic and financial ties.

Good morning. The EU is preparing for a no-deal scenario with the US. Home sellers in the UK are cutting prices at a record pace. And Microsoft’s server software comes under widespread cyberattack. Listen to the day’s top stories.