Daybreak London: More Mayhem expected across markets as analysts say the future is uncharted territory
Businessinsider.com: Stocks capped their worst week since the global pandemic-induced market carnage in March 2020. The Dow Jones Industrial Average (DJIA) ended the week with a loss of 7.86%, while the S&P 500 (SPX) dropped by 9.08%. The tech benchmarks Nasdaq Composite (NDAQ) and Nasdaq-100 (NDX) tumbled by 10.02% and 9.77%, respectively.
www.share-talk.com: Global stock markets have shed $4.9 trillion (£3.8 trillion) in value since Donald Trump’s “liberation day” speech on Wednesday, according to an analysis by a stockbroker.Only one stock in the FTSE 100 rose on Friday. Markets have taken a heavy hit following Donald Trump’s announcement of sweeping import taxes on countries worldwide. London’s leading stock index plunged 419.75 points, or 4.95%, to close at 8,054.98.
However, all hope was abandoned on Friday after China matched the Trump administration’s 34% retaliatory tariff on imports with one of its own, signaling that the trade war is no longer theoretical – it is on with a vengeance, and markets need to adjust to the new reality. However, with America’s tariff levels at their highest in decades, and their widest ever, this adjustment looks problematic at best, since the U.S., and global economy in general, is now in uncharted territory.
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