From 20m
ago
08.12 BST
FTSE 100
plunges 6% to one-year low
Britain’s
stock market has plunged deep into the red at the start of trading.
Stocks
are sliding sharply again, adding to last week’s heavy losses, as investors
grow more fearful that Donald Trump’s trade policies will lead to recession.
In
London, the FTSE 100 index of blue-chip stocks has plunged by 488 points, or
6%, taking the index down to 7566 points, its lowest level since February 2024.
That’s an
even more severe plunge than the near-5% wipeout on Friday after China
retaliated against the US with its own new tariffs.
Every
share on the FTSE 100 is in the red, with UK manufacturing firm Rolls-Royce
tumbling by 13%.
Miners,
banks, and investment firms are also in the top fallers.
There is
widespread disappointment this morning that there was no progress on US trade
tariffs over the weekend, with Trump described his new tariffs as necessary
‘medicine’.
Kathleen
Brooks, research director at XTB, says investors are desperate to see ‘concrete
action’, such as a pause or u-turn on Trump’s tariffs.
This
market is looking for concrete action, not talk of action. The best panacea for
financial markets right now would be a pause or reversal from the US on its
tariff programme.
1m ago
08.31 BST
Europe's
Stoxx 600 slides to 16-month low
Stocks
across Europe have cratered to their lowest level since December 2023.
The
pan-European Stoxx 600 index, which tracks the six hundred largest companies in
Europe, has slumped by over 6% this morning, to its lowest level since early
December 2023.
7m ago
08.25 BST
Richard
Hunter, head of markets at interactive investor, says:
“China
is clearly in the mood for the fight, and with the world’s two largest
economies at loggerheads, the result has been ugly for investors.
Retaliatory
tariffs announced on Friday by China sent markets into another tailspin, while
comments from President Trump over the weekend will do little to assuage the
situation, with US futures already pointing to another difficult trading
session to come.
The
futures market indicates the US S&P 500 will slump by another 3.5% when
trading begins later today, with the tech-focused Nasdaq index on track for a
4.5% tumble.
Updated
at
08.25 BST
9m ago
08.23 BST
European
stock markets plummet as Trump refuses to back down.
Across
Europe, stock markets are in freefall.
In
Frankfurt, Germany’s DAX index has fallen by 10% at the start of trading, while
France’s CAC has lost 6.6%, and the Italian FTSE MIB is down 5.7%.
15m ago
08.17 BST
FTSE 100
on track for worst day since 2020, again
In
percentage and points terms, this morning’s 6% plunge would be the worst day
for the FTSE 100 since March 2020, when markets crashed early in the Covid-19
pandemic.
Updated
at
08.17 BST
20m ago
08.12 BST
FTSE 100
plunges 6% to one-year low
Britain’s
stock market has plunged deep into the red at the start of trading.
Stocks
are sliding sharply again, adding to last week’s heavy losses, as investors
grow more fearful that Donald Trump’s trade policies will lead to recession.
In
London, the FTSE 100 index of blue-chip stocks has plunged by 488 points, or
6%, taking the index down to 7566 points, its lowest level since February 2024.
That’s an
even more severe plunge than the near-5% wipeout on Friday after China
retaliated against the US with its own new tariffs.
Every
share on the FTSE 100 is in the red, with UK manufacturing firm Rolls-Royce
tumbling by 13%.
Miners,
banks, and investment firms are also in the top fallers.
There is
widespread disappointment this morning that there was no progress on US trade
tariffs over the weekend, with Trump described his new tariffs as necessary
‘medicine’.
Kathleen
Brooks, research director at XTB, says investors are desperate to see ‘concrete
action’, such as a pause or u-turn on Trump’s tariffs.
This
market is looking for concrete action, not talk of action. The best panacea for
financial markets right now would be a pause or reversal from the US on its
tariff programme.
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