Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: “The big flight to cash continues as investors seek a shelter for their money amid the tariff storm.
“Trump has dashed hopes for an easing of policy by calling tariffs ‘medicine’, and investors are absorbing the implications of this bitter pill for the global economy.”
« The FTSE 100 has opened deep in the red, falling more than 5% in early trade, as pessimism spreads about the outlook for world trade. While the biggest fall this century was the pandemic-induced 10.8% drop on 12 March 2020, the losses in recent days are steep, an indication of the fear spreading about the implications of the White House approach.”
She added: “The tech-stock turmoil looks set to rampage for another day on Wall Street. The bears are already out in force across the Nasdaq, and futures indicate another steep fall for the index. The halcyon days of cheap manufacturing and easy markets appear to be over. With, as yet, no indications of a rolling back of tariffs, investors are reassessing earnings estimates, denting valuations.”
