London stocks slide as Trump threatens China
(Finance) – London-listed stocks fell on Friday as data showed the UK housing market was grinding to a halt, with sentiment also dented by U.S. President Donald Trump’s threat to impose new tariffs on China over the coronavirus crisis.
The FTSE 100 was down 2.2% at 0706 GMT, wiping out much of the strong gains it had seen this week on signs of several countries easing lockdown measures.
The domestically focussed mid-cap index fell 1.3%, as Trump said late on Thursday his hard-fought trade deal with China was now of secondary importance to the pandemic, with his administration crafting retaliatory measures over the outbreak.
British Airways operator IAG shed another 2.6% as details of its plans to cut staffing, including a quarter of its pilots, and weather the collapse in air travel under the coronavirus continued to seep out.
Overall trading volumes were thin as many markets elsewhere in Europe were closed for a May 1 public holiday.
(Photos syndicated via Reuters)