The FTSE 100 plunged at the opening bell in London today, putting the UK stock market on track for its fourth-straight day of losses. It comes as Donald Trump brings his tariff war to European shores.
The Trump administration announced tariffs on $7.5 billion ($6.1 billion) worth of European goods including aircraft, French wine, Scotch whiskey, and Italian cheese.
“The EU has taken advantage of the U.S. on trade for many years. It will soon stop!” – President Trump, in April this year.
FTSE 100 drops 0.5%
The UK’s FTSE 100 index plunged 0.5% lower on Thursday morning, a day after posting its worst stock market loss in three and a half years which saw $63 billion wiped out in a brutal trading session.
Germany’s DAX appeared to buck the trend, treading water 0.4% higher in the first hour of trading.
Trump strikes back over Airbus subsidies
Already deep into a trade war battle with China, Trump now points his tariff gun at Europe. Last night, the World Trade Organization (WTO) gave the US president the go-ahead to impose a 25% levy on European agricultural goods and a 10% levy…
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Author: Ben Brown