Stock markets fall amid US-China trade tensions – business live
Chinese media suggests rare earth minerals to be next battleground in dispute with Trump
Back in the markets, the FTSE 100 has now lost more than 100 points for the day, or 1.5%. It’s a fairly broad-based sell-off across sectors, with Ocado now the biggest faller, down 5.4% so far.
Every major European index has lost well over 1% so far. France’s Cac 40 is down by 1.8%, Germany’s Dax is down by 1.4%, and Italy’s FTSE MIB has lost 1.5%.
There is also an interesting chapter on the climate crisis in the European Central Bank’s financial stability review.
Central banks have become increasingly vocal on the dangers posed by global heating – albeit couched in language about exposures to financial risks.
While significant macroeconomic impacts from climate change may occur in the more distant future, some impacts are already beginning to be felt.