Shares in the FTSE heavyweight Rolls-Royce plummeted by as much as 10% on Friday amid escalating fears of a global trade war. The global markets took a hit after China declared a 34% retaliatory tariff against the US.
As a significant exporter of aircraft and marine engines, as well as power systems, Rolls-Royce saw its stock price drop to a one-month low of 682p, as reported by .
The company's operations are deeply integrated into the global supply chain, relying on components from various countries and distributing finished products across the globe.
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The FTSE 100 experienced a sharp decline of up to 3.8%, while the FTSE 250 dropped over three percent. During Trump's 'Liberation Day' speech, the 海角视频 was targeted with a ten percent import tax, which was set as the baseline rate.
Russ Mould, investment director at AJ Bell, commented on the market situation: "With markets having suffered their worst week in five years, investors were hiding under their duvet on Friday hoping the pain would go away."
He observed that the relentless selling persisted, with markets falling across Asia and Europe and futures prices indicating that the US would follow suit once trading commenced.
Mould pointed out that "countless sectors" would feel the impact of the economic upheaval, but the complexity of the "moving parts" made it challenging to "know where to begin to comprehend the situation."
The European markets also felt the sting of these escalations, with Germany's Dax dropping nearly five percent and France's Cac 40 plunging over four percent.
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In his speech, Trump declared a 20% tariff rate on EU imports to the US. The President stated that the "worst offenders" would face the highest levies, reiterating his claim that the US had been "taken advantage of."
Derren Nathan, head of equity research at Hargreaves Lansdown, commented: "Despite months of sabre-rattling by Donald Trump, markets appear to have been unprepared for the depth and breadth of tariffs announced by the White House."