Global markets take fright as Trump ramps up US-China trade war
US president threatens to impose $300bn of tariffs on Chinese goods
Financial markets around the world have sold off sharply after Donald Trump threatened to impose $300bn (£247.6bn) of tariffs on Chinese goods in a rapid escalation of the trade war between Washington and Beijing.
The FTSE 100 plunged by more than 2% as markets across Europe tumbled on Friday, continuing a wave of selling pressure around the world in the aftermath of the president’s announcement on Thursday evening.