The Ftse 100 plummeted once again this morning, after reaching record highs, as President Donald Trump doubled down on his threat of imposing tariffs on imports from European nations, including the UK.
Stock markets worldwide suffered further hefty drop one year on from Mr Trump’s second term inauguration as tensions remained high after the US ramped up its demands to annex Greenland from Denmark.
The UK’s primary stock market Index slipped by more than 120 points soon after opening earlier today, down 1.3 per cent at 10068.4, after a 0.4 per cent fall yesterday.
European indices also remained heavily in the red, with the Dax in Germany down one per cent and France’s Cac 40 off 0.9 per cent in early trading, after sharp declines in Asian markets overnight.
The Ftse has fallen again as President Trump demands Europe bows to his demands
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Over the weekend, President Trump threatened to slap up to 25 per cent tariffs, which are taxes on imports, on countries that do not support his plans to take over Greenland.
The UK has also been targeted in this latest tariff threat from the White House, with the President currently travelling to Davos, Switzerland, on Tuesday for the World Economic Forum (WEF0.
Last night, Mr Trump continued to call on European accept his demands; posting private text messages with French President Emmanuel Macron and Prime Minister Keir Starmer’s plan to sell the Chagos Islands to Mauritius.
Gold prices jumped to another new record as investors went on the hunt for a safe haven asset, hitting 4,728 US dollars (£3,507) per ounce during morning trading today.
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President Trump introduced sweeping tariffs on a huge amount of countries | Reuters
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