Investor confidence has plunged after Donald Trump’s tariff wars sparked major turbulence.
Funds platform Hargreaves Lansdown had seen a decline in sentiment across the board this month after the US President sent ‘shockwaves’ across markets.
It was the latest evidence that Trump’s actions are buffeting savers and firms in the UK and across the world.
Separately, Aim-listed currency trader Argentex sounded the alarm over the impact of the falling dollar on its balance sheet –suspending trading in its shares.
It said it had been particularly exposed to ‘the rapid devaluing of the US dollar against other major benchmark currencies’.
The company said it had the support of its main lender and was looking to strengthen its position, but ‘in the event that the volatility in currency markets worsens materially, then the company’s financial liquidity position, if not strengthened in the near term, would be significantly stretched’.
Shockwaves: Funds platform Hargreaves Lansdown said it had seen a decline in sentiment across the board this month after US President Donald Trump launched his tariff war
The dollar has hit its lowest in three years against other major currencies and is set for its worst performance in the first four months of the year in 50 years, data suggests.
And asset manager City of London Investment Group yesterday reported a £127million outflow from its emerging markets funds between January and March amid ‘uncertainty relating to US tariff policy’.
Victoria Hasler, at Hargreaves Lansdown, said: ‘The extent and level of tariffs imposed sent shockwaves through markets.’
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