FX.co ★ FTSE 100 Down Nearly 1%

The FTSE 100 experienced a decline of over 1% on Thursday, falling to approximately 8,510, its lowest level in around three weeks. This downturn was influenced by global stock market pressures following President Trump's latest tariff announcement. The announcement prompted a significant shift toward safe investments and raised concerns about its potential repercussions on the global economy. The imposed 10% tariff on UK imports has already led some governments, including China and the European Commission, to announce retaliatory actions. Prime Minister Starmer stated that the UK would respond with "cool and calm heads," emphasizing that President Trump acted in the interests of his country, and now Britain would prioritize its own interests. Among those hit hardest were Asia-focused banks Standard Chartered PLC, which dropped 7.4%, and HSBC Holdings PLC, which fell 4%, along with JD Sports (-5.7%), Ashtead Group (-5.6%), and Barclays (-4.4%). Conversely, Unite Group saw gains of 2.6%, and Diageo rose by 2.4%.