London close: Traders dump shares as US levies tariffs, Brent skids lower

London stocks gave back all of the previous day's gains - and then some - on Friday, as traders reacted to the feared, albeit somewhat anticipated, announcement by the White House of the imposition of a 25% tariff on $50bn-worth of goods purchased from China. In the wake of that news, Capital Economics told clients: "That action covers just 1.1% of total US imports, so will not on its own have a major macroeconomic impact. But the real worry is that it heralds a new era of much greater ...

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