British Equities Tumble Amid Healthcare and Tariff Concerns
British equities fell as investors reacted to Trump's new tariffs and demands to lower drug prices. The FTSE 100 and 250 indices saw declines, with healthcare stocks hit hardest. Trump imposed tariffs on numerous countries, while tariffs on Swiss imports affected companies like Watches of Switzerland.
On Friday, British equities experienced a decline, mainly due to setbacks in healthcare shares, following U.S. President Donald Trump's announcement of fresh tariffs affecting numerous countries and his demands for lower prescription drug prices.
The FTSE 100 index fell by 0.7%, poised to end a winning streak spanning six weeks. Meanwhile, the midcap FTSE 250 dropped nearly 1%, marking its second consecutive weekly decline.
Trump's new tariffs have particularly affected British companies, with major drops observed in AstraZeneca and GSK stocks. The Industrial Support Services sector also saw a downturn following Intertek Group's disappointing revenue growth report.
(With inputs from agencies.)
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