London Stock Market Braces for Impact as Shares Expected to Fall
City traders are preparing for a rocky session as the London stock market is set to open with expectations of falling shares. Metal prices have taken a hit following President Trump’s 10% tariff on imports from China, with benchmark copper, aluminium, zinc, lead, tin, and nickel all experiencing declines. The Bank of England is likely to cut interest rates multiple times this year, with analysts pricing in 80 basis points or cuts to the Bank Rate by the end of the year. The Canadian dollar has hit a 20-year low against the US dollar, and the country has published a list of US products that will be targeted with retaliatory tariffs starting on Tuesday.
In response to Trump’s tariffs on Canada, Mexico, and China, Japan’s Nikkei 225 share index closed down 2.66%. Australian markets also suffered losses, with the dollar and benchmark ASX200 plunging. Automakers Toyota, Honda, and Kia saw sharp declines in their stock prices as the possibility of weaker demand and global growth weighed on investors. Trump’s threats to impose tariffs on Europe and the UK have caused concern, with global markets reflecting worries about a potential trade war that could impact growth and inflation. Asian markets, cryptocurrencies, and US and European stock futures have all slumped, pointing to a turbulent day ahead for traders worldwide.
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