US president’s surprise announcement sends global stock markets plunging as fears for world economy grow
Donald Trump has hit China with tariffs on an extra $300bn worth of imports, in a major escalation of the trade war between the two nations that threatens the health of the global economy.
The US president’s announcement sent stock markets around the world into a tailspin, with the FTSE 100 dropping 2 per cent within minutes of opening on Friday morning.
That followed plunges across Asian markets earlier in the day as rising tensions between Washington and Beijing spooked investors.
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