London market drops as Trump tariffs come into effect [Yahoo! Finance]
INTL CONSL AIRLNS S/ADR (ICAGY)
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Source: Yahoo! Finance
The FTSE 100 Index retreated from record highs notched up on Monday to drop more than 60 points at one stage after opening, later standing around 0.5% down at 8823. Falls were also seen across Europe, with the Dax in Germany sinking 1.7%, while the Cac 40 in France was 1% down. After initially pausing the tariffs, Mr Trump said that starting just past midnight local time, imports from Canada and Mexico would now be taxed at 25%, with Canadian energy products receiving 10% tariffs. US President Donald Trump also paused American military aid to Ukraine (Pool via AP) In addition, the 10% tariff that Mr Trump placed on Chinese imports in February is doubling to 20%. The move – which was followed swiftly by retaliatory action from Canada and China – sent US markets tumbling into the red, with the Dow Jones Industrial Average closing 1.5% lower and the S&P 500 ending the session down 1.8%. In Asia, the Nikkei 225 dropped 1.2% but China's Hang Seng Index held largely firm, down
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