India, April 4 -- U.K. stocks are falling sharply, sending the benchmark FTSE 100 to a near three-month lows, as investors continue to exit counters amid rising fears of a wide-ranging trade war and a global recession following U.S. President Donald Trump's sweeping "reciprocal tariff" plans.
Criticizing Trump's decision to impose 34% of additional reciprocal levies on China, which raises total U.S. tariffs against the country to 54%, as "inconsistent with international trade rules," the China's finance ministry said today that it will impose a 34% tariff on all goods imported from the U.S. starting on April 10.
Shares from banking, mining and oil sectors are among the major losers.
The benchmark FTSE 100 is down 361.25 points or 4.26% a...