Stock markets in London, Paris, and Berlin fell on Thursday following U.S. President Donald Trump’s announcement of sweeping tariffs. The UK has been hit with a baseline 10% while the EU has been hit with 20%.

Cliff notes – Global stocks slide as Trump tariffs hit markets

Stock markets fall – London’s FTSE 100 down 1%, France’s Cac 40 down 1.7%.
Asian markets drop – Japan’s Nikkei down 3%, Hong Kong’s Hang Seng down 1.5%.
Gold price surge – Hits a record high of $3,167.57 an ounce.
Concerns over tariffs – Fears of inflation and slowed growth.
Trump’s tariff plan – 10% baseline levy and higher duties on key trade partners, reversing trade liberalisation.

Stock markets in London, Paris, and Berlin fell on Thursday following U.S. President Donald Trump’s announcement of sweeping tariffs. The UK’s FTSE 100 dropped 1%, while France’s Cac 40 fell 1.7%. Asian markets had already declined earlier, with Japan’s Nikkei closing nearly 3% lower and Hong Kong’s Hang Seng down 1.5%.

Traders are worried about the global economic impact, fearing that the tariffs could drive inflation and slow growth. In response to market uncertainty, gold prices surged to a record high of $3,167.57 an ounce before retreating.

Trump’s tariff plan, which includes a 10% baseline levy and higher duties on key trading partners, marks a major shift away from decades of trade liberalisation.