Stock markets LIVE: FTSE 100 Index drops sharply | U.Ok.Finance News
London’s FTSE 100 Index dropped sharply on opening, falling 122.4 factors or 1.4% to 8486.09 within the first couple of minutes of trading after US President Donald Trump unveiled sweeping new tariffs on US imports.The Asian markets and US futures took a hit on Thursday following US President Donald Trump’s announcement of vital tariff will increase on international imports. The double-digit tariff hikes despatched shockwaves via international markets, with economists warning that they considerably heighten the risk of a recession.The future for the S&P 500 noticed a drop of 2.9%, whereas the Dow Jones Industrial Average misplaced 2.2%, indicating potential losses when US markets reopen on Thursday. In Asian trading, Tokyo’s Nikkei 225 index briefly dipped 4%, with automakers and banks struggling main hits. Just earlier than the market closed, it was down 3.4% at 34,498.31. Shares in Mitsubishi UFJ Financial Group plummeted 8.3% because the potential affect of the 24% tariffs on Japan’s export-dependent economic system dashed hopes that the central bank will proceed to raise rates of interest. Mizuho Financial Group slid 9.2%.Sony Corp.’s stocks dropped 5.6% and Toyota Motor Corp. misplaced 6.3%. Japan’s yen strengthened, with the U.S. greenback falling to 147.04 Japanese yen from 149.28 yen. The euro rose to $1.0949 from $1.0855. In South Korea, which was hit with a 25% tariff, the benchmark Kospi fell 1.1% to 2,478.49.THIS IS A LIVE BLOG… FOLLOW BELOW FOR LIVE UPDATES…
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