Zak Mir takes a charting look at the FTSE 100’s week from hell in the wake of US tariffs news, the worst decline since the start of the pandemic.
Only one stock in the FTSE100 saw a rise on Friday. Markets have taken a heavy hit following Donald Trump’s announcement of sweeping import taxes on countries worldwide. London’s leading stock index plunged 419.75 points, or 4.95%, to close at 8,054.98.
This marks the largest one-day drop since March 2020, when the index tumbled by over 600 points in a single session. Nearly every FTSE 100 stock ended the day in the red on Friday, with steep losses hitting Rolls-Royce, banking stocks, and miners, according to PA. JD Sports was the only company to record a gain.
European stocks plunged on Friday, with both the pan-European Stoxx 600 and Germany’s DAX officially entering correction territory—defined as a drop of 10% or more from recent highs.
The selloff was triggered by a wave of retaliatory measures from China in response to the latest tariffs imposed by Donald Trump.
The Stoxx 600 closed down 5.1%, marking its steepest one-day decline since the Covid-driven market crash in 2020. The index is now down nearly 12% from its all-time closing high on March 3, and its weekly loss of over 8% is the worst in five years, as investors flee risk and shift toward safe-haven assets.
Germany’s DAX also confirmed a correction after sliding 5% on the day.
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