European stocks slumped on Friday, extending Thursday’s rout, as U.S. President Donald Trump’s sweeping reciprocal tariffs raised fears of a global trade war and economic recession.
The FTSE 100 Index, which tracks the 100 largest UK companies, fell 4.95 percent to closed at 8,054.98, marking its worst daily drop since March 2020.
The plummet came amid fears about the economic impact of newly announced U.S. tariff increases. Banks were the hardest hit while utility companies were among the few gainers.
The last major daily drop occurred on the…
