US, UK and European stock markets plunge amid ‘Trump tariff tantrum’
US, UK and European stock markets plunge amid ‘Trump tariff tantrum’
Global stock markets come under pressure amid ‘Trump tariff tantrum’
Stock markets in the US, UK and Europe have suffered heavy falls after Donald Trump announced a number of tariffs, prompting fears of a global trade war.
The US president rattled investors by signing off on tariffs on China, Canada and Mexico over the weekend, triggering what was quickly described as a “Trump tariff tantrum”.
The FTSE 100 share index shed 122 points, or 1.4%, to hit 8,551 points, falling back from last Friday’s record high.
Germany’s DAX index fell by 1.6%, while France’s CAC 40 was down by 1.5%. Spain’s IBEX dropped 1.5% and Italy’s FTSE MIB lost 1%.
Wall Street followed European markets lower. The Dow Jones industrial average of 30 large US companies opened down 1.26%. The broader S&P 500 index fell by more than 1.6% while the tech-focused Nasdaq dropped by nearly 2%.