The FTSE 100 slipped 0.2% on Monday, pausing after its strongest weekly performance of the year, as renewed uncertainty over US tariffs weighed on risk appetite. Trade policy confusion re-emerged after the Supreme Court struck down President Donald Trump’s reciprocal tariff initiative, prompting him initially to propose 10% global tariffs before swiftly revising the plan to 15%. The shifting policy signals are unsettling markets at the start of the week.
Shares most exposed to US trade measures are leading the declines, with overseas earners under particular pressure. AstraZeneca, BAE Systems and BAT are among the heaviest drags on the index. However, losses are being partly offset by gains in financials and miners, as safe-haven demand lifts gold and silver prices. Fresnillo and Endeavour Mining are up more than 3%, while JD Sports climbs over 3.5% after unveiling a £200 million share buyback. Miners Antofagasta, Glencore and Anglo American are also trading higher.
