Trump tariffs reside updates: FTSE suffers largest day by day drop since Covid after China hits US with big 34% tariff

[ad_1] FTSE suffers worst day in 5 years The FTSE-100 dropped 3.8 per cent – its worst day since 27 March 2020, because the Covid pandemic hit the UK.

After China introduced it a 34% reciprocal tariff on imports of all US merchandise, the index dropped by about 4%, later recovering a little bit earlier than dipping once more.

Ftse 4.4.25 (London Inventory Alternate) Jane Dalton 4 April 2025 16:49

Nasdaq heads in the direction of bear market territory The Nasdaq appears to be like set to substantiate a bear market, as it's down greater than 20 per cent from its report excessive.

The tech-heavy index hit a report closing excessive of 20,173.89 on December 16, however has struggled for the reason that begin of the 12 months. Fears of a possible slowdown in AI spending had pushed it into correction territory earlier final month.

The index was final down 3.6 per cent on Friday.

Jane Dalton 4 April 2025 16:43

How Trump tariffs led to a $2.5 trillion wipeout for the US inventory markets – and why worse is but to come back Except you occur to be an investor or dealer who had shorted numerous shares earlier than yesterday, it in all probability wasn’t an satisfying expertise watching a few of the largest and most well-known corporations on the planet tumble ever-deeper into the pink.

By the shut of play within the US on Thursday, President Donald Trump’s previous-day announcement of worldwide tariffs had wiped simply shy of an estimated $2.5 trillion, or £1.9tn, off the overall worth of US inventory markets within the house of some hours.

For what is basically a play at making his nation richer for the long run, it was fairly the impression in the other way – however Mr Trump stays steadfast in his beliefs {that a} longer-term acquire shall be comprised of his ploy of alienating a lot of the remainder of the planet in enterprise phrases.

Our enterprise and cash editor Karl Matchett experiences:

Andy Gregory 4 April 2025 16:22

Opinion | The markets could also be assuming Trump's erratic coverage shall be corrected in the end The Unbiased’s affiliate editor Sean O’Grady writes:

The markets, distressed as they're, haven't but fallen right into a full-on crash. However solely as a result of they assume that such erratic policy-making will in the end be corrected and the tariffing watered down.

If not, then the valuations hooked up to the world’s largest companies should fall, for the straightforward motive that they'll not make issues in essentially the most environment friendly method, and thus generate the returns they should justify anybody shopping for their shares. There shall be a tsunami of revenue warnings within the months forward.

Trump has not solely upended the post-war rules-based worldwide buying and selling system, however the very idea of globalisation and the operations of each manufacturing, transportation, logistics and sources firm on earth. Not far behind them would be the banks and funding homes that finance and are invested in them. And when the remainder of us subsequent see a valuation of our pension pots we'll see the speedy and colossal impression. That is the place it hits house.

It’s at occasions like these that the markets panic. It may very well be, as reported, that traders can’t fairly consider what is going on, and that any American president might abandon free market-based economics for eighteenth-century mercantilism, and set about making America seem like the Nineteen Sixties once more.

However what if he means it? What if he ramps the tariffs up once more if international locations retaliate? What if it escalates?

Andy Gregory 4 April 2025 16:05

Canada unemployment rises for first time since 2022 Canada's whole employment fell and the unemployment charge rose in March, new official information confirmed, because the uncertainty round US tariffs and their subsequent implementation pressured corporations to pause hiring and spurred some layoffs.

The nation shed a web 32,600 jobs final month, in what marks the primary lower in additional than three years. This was pushed by a steep decline in full-time work, Statistics Canada stated.

The employment decline adopted largely flat job progress in February and a strong acquire of 211,000 new jobs from November to January. The unemployment charge rose to six.7 per cent in March from 6.6 per cent a month earlier.

“The wheels could also be beginning to fall off the Canadian labor market," Andrew Grantham, senior economist at CIBC Capital Markets, wrote in a report. Analysts polled by Reuters had forecast a web job acquire of 10,000 folks and had estimated the unemployment charge to rise to six.7 per cent.

Andy Gregory 4 April 2025 15:49

US labour market exhibits resilience previous to Trump's tariff announcement The US financial system added much more jobs than anticipated in March, previous to Donald Trump’s tariffs – which is more likely to check the American labour market’s resilience within the months forward.

The US Labour Division's intently watched employment report on Friday confirmed nonfarm payrolls – which excludes these in agriculture, non-public households, and not-for-profits – elevated by 228,000 jobs final month, after a downwardly revised 117,000 rise in February.

Economists polled by Reuters had forecast payrolls advancing by 135,000 jobs after a beforehand reported 151,000 rise in February. Estimates ranged from 50,000 to 185,000. A part of the rise in payrolls was a rebound after freezing temperatures curbed exercise in January and February.

“It is a drop of excellent information in a sea of uncertainty, a footnote given the barrage of actions this week,” stated Olu Sonola, head of US financial analysis at Fitch Rankings. “Nevertheless, that is trying within the rear-view mirror, subsequent month's jobs report shall be extra consequential.”

Andy Gregory 4 April 2025 15:35

‘Like an operation carried out with out anaesthesia’ Donald Trump has stated Individuals might really feel “some ache” due to tariffs, however he has additionally stated the long-term targets – together with getting extra manufacturing jobs again to the US – are price it. On Thursday, he likened the state of affairs to a medical operation, the place the US financial system is the affected person.

“For traders their portfolios, it might have felt like an operation carried out with out anaesthesia,” Brian Jacobsen, chief economist at Annex Wealth Administration, informed Reuters.

However Jacobsen additionally stated the following shock for traders may very well be how rapidly tariffs get negotiated down. “The pace of restoration will depend upon how, and the way rapidly, officers negotiate,” he stated.

Andy Gregory 4 April 2025 15:15

Nasdaq enters ‘bear market’ territory After opening 3 per cent decrease at the moment, the tech-heavy Nasdaq has dropped greater than 20 per cent from its all-time closing excessive touched in December – placing it on the right track to substantiate a bear market.

Andy Gregory 4 April 2025 14:48

Trump says China ‘performed it improper’ in retaliation in opposition to US tariffs Donald Trump has claimed that China “performed it improper” after Beijing retaliated in opposition to new US tariffs, unveiling countermeasures that included further duties of 34 per cent on all US items.

“China performed it improper, they panicked – the one factor they can not afford to do!” Mr Trump wrote in all caps in put up on his social media platform.

Earlier, the US president wrote, additionally in all caps: “To the various traders coming into the US and investing huge quantities of cash, my insurance policies won't ever change. It is a nice time to get wealthy, richer than ever earlier than!!!”

<img src="https://static.independent.co.uk/2025/04/04/13/31e307f807fb97f27a16e242cd16bca8Y29udGVudHNlYXJjaGFwaSwxNzQzODU0Mjg1-2.79371527.jpg?quality=75&width=320&auto=webp 320w, https://static.independent.co.uk/2025/04/04/13/31e307f807fb97f27a16e242cd16bca8Y29udGVudHNlYXJjaGFwaSwxNzQzODU0Mjg1-2.79371527.jpg?quality=75&width=640&auto=webp 640w" loading="lazy" alt="US President Donald Trump signed an executive order giving TikTok an extension until April 5 (Niall Carson/PA)" class="sc-1mc30lb-0 cpasWE"/> US President Donald Trump signed an govt order giving TikTok an extension till April 5 (Niall Carson/PA) (PA Wire) Andy Gregory 4 April 2025 14:46

US markets tumble once more after largest day of losses since March 2020 The three main markets in the US have all opened with important losses following what marked their largest one-day drop since March 2020.

The S&P 500 was down 2.77 per cent shortly after opening, whereas the Nasdaq was 3.2 per cent decrease than the earlier shut, and the Dow Jones down 2.58.

Andy Gregory 4 April 2025 14:37

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