Stock markets slipped back from all-time highs yesterday as Donald Trump’s latest tariff threats dampened sentiment.
The FTSE 100 fell 0.4 per cent, or 35.54 points, to 8941.12 having closed at a record level the day before.
But that was not enough to stop the FTSE enjoying its best week since May – with a rise of 1.3 per cent. It is up by nearly 10 per cent so far this year.
In New York, Wall Street indices also retreated from their latest peaks yesterday. And in Europe, Germany’s Dax and France’s Cac 40 were in the red too.
Trump announced a 35 per cent tariff on Canadian imports from next month, up from the 25 per cent imposed in March and warned it could climb higher if Canada retaliates.
Slip: The FTSE 100 fell 0.4 per cent, or 35.54 points, to 8941.12 having closed at a record level the day before
He also floated the possibility of 15 per cent or 20 per cent baseline tariffs to apply across other markets, up from the current 10 per cent.
However, optimism over cryptocurrencies lifted bitcoin to a record high of more than $118,000 ahead of a week that could see US legislators pass laws that will shift crypto towards the mainstream.
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