Trump set out the full details of his ‘reciprocal’ tariffs after the markets shut on Wednesday evening. The response during trading on Thursday and Friday was unequivocal and markets across the globe suffered their steepest decline since the pandemic. On Friday the S&P fell 6%, the FTSE 100 dropped 4.95% and in Japan the Nikkei was down 7.8% when trading closed this morning.
Over the past year, US stocks have delivered strong returns, but much of the gains have come from a select few tech giants. The ‘Magnificent Seven’ – Apple, Microsoft, Amazon, Alphabet, Nvidia, Meta, and Tesla – have been the driving force, fuelled by the AI boom. However, cracks are starting to show….
February’s UK public finance data, published on Friday, showed the government borrowed £10.7bn. That’s £4.2bn more than the Office for Budget Responsibility had estimated, and the fourth highest borrowing for a February since records began in 1993 (the three others occurred during the global financial crash and covid).
When the FCA’s thematic review of retirement advice landed last March, most advisers could be forgiven for breathing a sigh of relief. All things considered, it was fairly benign, with more examples of good practice than bad.
But, as the review highlighted, the issue of delivering a sustainable income in retirement is becoming increasingly pressing.
February’s UK public finance data, published on Friday, showed the government borrowed £10.7bn. That’s £4.2bn more than the Office for Budget Responsibility had estimated, and the fourth highest borrowing for a February since records began in 1993 (the three others occurred during the global financial crash and covid).
A trade storm is brewing between the United States and China, threatening to shake up the global economy. US President Donald Trump has announced a new 10% tariff on Chinese imports, set to take effect on March 4. Coming shortly after earlier duties imposed this month, this latest move—linked to concerns over drug flows from North America—took both nations by surprise. China’s Ministry of Commerce responded swiftly, pledging to use “all necessary measures” to protect its interests. This back-and-forth has sparked worries of a full-blown trade war between the world’s two economic powerhouses.
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