Global stock markets brace for chaos as Trump tariff fallout continues

• Global stock markets are set for another substantial decline after a major downturn in Asian stocks triggered by China's retaliation to Donald Trump’s tariffs.
• Hong Kong's Hang Seng Index experienced its most significant drop since 2008, falling by 13 per cent. Japan's Nikkei 225 and the Asian Dow also saw substantial declines.
• The FTSE 100 opened three per cent lower and quickly dropped below 5 per cent, mirroring similar losses in the FTSE 250. European markets also experienced significant drops, with the CAC 40 and DAX down more than 6 and 7 per cent, respectively.
• US futures indicate a potential 4.8 per cent drop in the S&P 500. Experts warn that markets haven't fully accounted for the potential impact of escalating trade tensions, particularly if the EU imposes retaliatory measures.
• Analysis suggests the US tariffs could cost the UK £22bn and negatively impact its economic growth.

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FTSE set for another dismal day after Asian stocks rout sees Hang Seng suffer biggest fall since 2008