US stock markets have tumbled after growing concerns that President Donald Trump's tariffs on Canada, Mexico and China will hurt the economy.
The dollar dropped to a three month low after the US leader warned Americans about the impact of his global trade war.
The US currency slipped against major currencies, with the pound rising above $1.28 for the first time since December.
It comes after the US president admitted that the US faced “a little disturbance” as a result of his tariffs, which he imposed on Canada, Mexico and China on Tuesday.
The 25% levies wiped out all the gains made by the S&P 500 since his election in November.
He has now imposed 20% tariffs on China but Asian markets rallied overnight after Beijing announced a 5% growth target for this year.
FTSE 100
The UK's flagship share index, the FTSE 100, was down six-points at 8,811 shortly after opening this morning.
Brent crude oil futures were up 0.10%, trading at $71.09 a barrel.
Companies reporting today
05-Mar | |
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Breedon | Full Year Results |
Ibstock* | Full Year Results |
Quilter | Full Year Results |