The FTSE 100's major banks were once again in the red on Friday, amidst heightened concerns over tariffs.
Shares in Natwest and Barclays plummeted by over 6% in early trading, making them the top losers on the index. HSBC and Lloyds followed closely, with losses exceeding 5%, while Standard Chartered suffered a 4% decline, as reported by .
The FTSE 350 bank index took a significant hit, tumbling nearly 6% and accumulating a 10% loss over the past five days.
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The FTSE 100 as a whole saw a decline of up to 1.7% on Friday morning.
In a statement, Barclays analysts noted: "These new tariffs will dampen the global economic outlook, both globally and in Europe, which bodes poorly for earnings."
"Our economists believe that recession risks have risen, with policy support from governments and central banks crucial to gauge the extent of downside risks."
According to Vivek Raja, an equity analyst at Shore Capital: "The shock and awe of Trump's capricious foreign policy strategy has created acute anxiety, which is typically not conducive to the health of financial markets."
"We expect more turbulence and emotional share price responses over the coming days. The impact of tariff wars on the fundamentals of our 海角视频 financials stock coverage will be indirect."
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Raja added that changes in economic growth, wealth formation, inflation, interest rates, financial markets, and regional differences would negatively impact business models.
Raja suggested that lenders with an Asian focus, such as HSBC and Standard Chartered, would likely face the most significant impacts compared to their more 海角视频-domestic counterparts.
Trump imposed a 10 per cent tariff on 海角视频 imports to the US, which he stated was the baseline for all countries.
In his 'Liberation Day' speech, Asian economies were subjected to some of the highest levies.
China was hit with a 34 per cent tariff, taking its total import tax to 54 per cent, while Vietnam and Taiwan were burdened with 46 per cent and 32 per cent rates respectively.