Trump tariffs live: Global stocks sink and FTSE sees biggest drop since Covid pandemic on second day of market turmoil

The UK’s FTSE-100 stock market experienced its largest one-day drop since the pandemic began, closing down nearly 5% amid global market turmoil caused by Trump’s new tariffs. China retaliated with a 34% tariff on US imports, sparking fears of a trade war between the two largest economies. Richard Branson criticized Trump’s tariffs, warning they would harm economies worldwide, while Sir Keir Starmer plans to discuss the issue with global leaders.

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