India, April 3 -- U.K. stocks are languishing in negative territory after a weak start Thursday morning amid fears of a global trade war after U.S. President Donald Trump announced steep "reciprocal tariffs" on major trading partners.
The British market's loss is somewhat less pronounced compared to other major European markets, as UK imports face a 10% tariff, half the 20% levy imposed on the European Union.
British Prime Minister Starmer has stated that the UK will respond with "cool and calm heads".
The benchmark FTSE 100 was down 131.20 points or 1.52% at 8,477.28 a little while ago. Germany's DAX and France's CAC 40 are down by about 2.3% and 2.4%, respectively.
Standard Chartered is down 8.4%. HSBC Holdings and Barclays are down b...