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| Stocks fall again as Trump tariff jitters continue | Stocks fall again as Trump tariff jitters continue |
| (about 1 hour later) | |
| European markets have slumped further after China hit back at US import taxes with retaliatory tariffs of its own. | European markets have slumped further after China hit back at US import taxes with retaliatory tariffs of its own. |
| The UK's FTSE 100 and Germany's Dax dropped about 4%, with some companies seeing double-digit falls in their share prices. | |
| The declines add to large falls seen on Thursday as markets continued to react to the uncertainty triggered by the US tariffs. | The declines add to large falls seen on Thursday as markets continued to react to the uncertainty triggered by the US tariffs. |
| Traders are concerned the tariffs will increase prices and weigh on growth in the US and abroad. | Traders are concerned the tariffs will increase prices and weigh on growth in the US and abroad. |
| The sweeping new tariffs announced by President Donald Trump triggered a slump in global stocks on Thursday, with US markets seeing their worst day since the impact of the Covid pandemic in 2020. | |
| Trump told reporters he thought things were going "very well", adding: "The markets are going to boom." | Trump told reporters he thought things were going "very well", adding: "The markets are going to boom." |
| But on Friday markets continued to slide, then dropped sharply after China imposed additional tariffs of 34% on all US goods from 10 April. | |
| In London, shares in Barclays bank and NatWest were down more than 8%, mining firm Glencore fell more than 9% and aero-engine maker Rolls-Royce was down more than 9%. | |
| Live: Follow the latest reaction to the US tariffs | Live: Follow the latest reaction to the US tariffs |
| At a glance: What Trump's new tariffs mean for the EU, China and others | At a glance: What Trump's new tariffs mean for the EU, China and others |
| Explainer: What are tariffs and why is Trump using them? | Explainer: What are tariffs and why is Trump using them? |
| Russ Mould, investment director at AJ Bell, said the "relentless selling" had continued despite investors "hoping the pain would go away". | Russ Mould, investment director at AJ Bell, said the "relentless selling" had continued despite investors "hoping the pain would go away". |
| "There are so many moving parts that getting your head around the situation [as an investor] isn't easy," he said. | "There are so many moving parts that getting your head around the situation [as an investor] isn't easy," he said. |
| "With countless sectors set to be hit by tariffs, it's difficult to know where to begin to comprehend the situation." | "With countless sectors set to be hit by tariffs, it's difficult to know where to begin to comprehend the situation." |
| Jane Sydenham, investment director at Rathbones, said banking stocks, firms with supply chains that were exposed to tariffs, and tech stocks had all been falling. | Jane Sydenham, investment director at Rathbones, said banking stocks, firms with supply chains that were exposed to tariffs, and tech stocks had all been falling. |
| Investors had been buying into safe haven assets including gold and government bonds, she said. | Investors had been buying into safe haven assets including gold and government bonds, she said. |
| China had been "under severe pressure" to respond to tariffs of 54% on most goods, she said, and its economy was big enough to be able to take such action. | China had been "under severe pressure" to respond to tariffs of 54% on most goods, she said, and its economy was big enough to be able to take such action. |
| But countries with smaller economies were having to be more cautious, she added. | But countries with smaller economies were having to be more cautious, she added. |
| Leah Fahy, China economist at Capital Economics, said the country had "hit back hard" against US tariffs. | |
| She said the "aggressive, escalatory" response "makes a near-term deal to end the trade war between the two superpowers highly unlikely". | |
| The dollar index, which measures the value of the US currency against six peers, had sunk 1.9% on Thursday, the sharpest drop since November 2022, but on Friday it steadied, rising by 0.35%. | |
| Oil prices fell sharply as traders worried that the tariffs could slow economic growth and worsen trade disputes. | Oil prices fell sharply as traders worried that the tariffs could slow economic growth and worsen trade disputes. |
| The price of a barrel of Brent crude slumped more than 6% to $65.35 a barrel. | |
| The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, has said the new tariffs "clearly represent a significant risk to the global outlook at a time of sluggish growth". | The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, has said the new tariffs "clearly represent a significant risk to the global outlook at a time of sluggish growth". |
| She said the IMF was still looking into the "macroeconomic implications" of the measures and stressed the need to avoid actions that could do more damage to the global economy. | She said the IMF was still looking into the "macroeconomic implications" of the measures and stressed the need to avoid actions that could do more damage to the global economy. |