British shares have slid further, extending the previous day’s deep losses, as economic and political instability rages on around the world.
On Wednesday, the FTSE 100 index of the most valuable companies listed in London recorded its biggest one-day fall since before the EU referendum in June 2016, losing 3.2 per cent. Traders, already on tenterhooks, were unsettled by a ruling that the US can impose tariffs on a range of European goods, as well as concerns over Boris Johnson’s final Brexit plan.
There was no let-up in the jitters on Thursday, with news overnight that the US will slap 25 per cent tariffs on French wine, Italian cheese and single-malt Scotch whisky.
But the most dramatic plunge of the day so far followed news that the US service sector is now at its weakest since August 2016, intensifying fears for the world’s largest economy.
By 3.48pm, the FTSE 100 was 1 per cent lower on the day.
1/50 3 October 2019
Police stands in front of the Treasury building during an Extinction Rebellion protest in London
Reuters
2/50 2 October 2019
Ex-Thomas Cook employees demonstrate in London after delivering a petition calling for a full inquiry into Thomas Cook’s collapse and for the company’s directors to pay back their bonuses
AFP/Getty Images
3/50 1 October 2019
A road in Alum Rock, Birmingham is flooded after persistent heavy rain
PA
4/50 30 September 2019
Two tourists pose for pictures in front of Union and EU flags outside the Houses of Parliament in London
PA
5/50 29 September 2019
A sheep on London Bridge as Freemen of the City of London took up their historic entitlement to drive sheep over the bridge, which was once London’s only river crossing
PA
6/50 28 September 2019
An Aldabra giant tortoise is fed watermelon as a treat at the Malvern Autumn Show, at the Three Counties Showground near Malvern in Worcestershire
PA
7/50 27 September 2019
Gallery assistants pose with an artwork entitled ‘Devolved Parliament’ by British artist Banksy, during a press view in London ahead of Sotheby’s contemporary art sale, as part of the Frieze Art Fair
AFP/Getty
8/50 26 September 2019
England’s Jonathan Joseph is tackled by United State’s Marcel Brache during their group match at the Rugby World Cup in Japan. England scored seven tries on their way to winning 45-7
Reuters
9/50 25 September 2019
Tributes for former Rangers player Fernando Ricksen at Ibrox Stadium. Today, the funeral procession will pass Ibrox Stadium before making the journey to Wellington Church
PA
10/50 24 September 2019
A person dressed as a caricature of Prime Minister Boris Johnson in a prison uniform stands outside the Supreme Court after it ruled that his decision to suspend Parliament was illegal
AFP/Getty
11/50 23 September 2019
Thomas Cook aircraft are parked up at Manchester Airport on the day they collapsed after rescue talks failed. A total of 22,000 jobs – including 9,000 in UK – are to be lost following administration. More than 150,000 British holidaymakers need to be brought home, with the government and CAA hiring dozens of charter planes to fly customers home free of charge
Getty
12/50 22 September 2019
Fire performer Penella Bee performs before people take part in the North East Skinny Dip at Druridge Bay in Nothumberland, an annual event that marks the Autumn Equinox and raises money for MIND – the Mental Health Charity
PA
13/50 21 September 2019
Protesters gather for a march and rally organised by “The People’s Vote” in Brighton, to call for politicians to give the public a final say referendum on Brexit
AFP/Getty
14/50 20 September 2019
Protesters in London joined millions across world to demand urgent action to save planet in the largest environmental protest in history
Angela Christofilou/The Independent
15/50 19 September 2019
Rapper Dave poses with the Mercury Prize: Albums of the Year Award at Apollo
Getty
16/50 18 September 2019
A surfer in action during sunrise at Tynemouth on the north east coast
PA
17/50 17 September 2019
Protesters dressed as the Incredible Hulk and Robocop outside the Supreme Court in London where judges are due to consider legal challenges to Prime Minister Boris Johnson’s decision to suspend Parliament. The Supreme Court will hear appeals over three days from two separate challenges to the prorogation of Parliament brought in England and Scotland
PA
18/50 16 September 2019
Farmer Tom Hoggard harvests pumpkins at Howe Bridge Farm in Yorkshire, ahead of Halloween
PA
19/50 15 September 2019
Team Europe celebrate winning the Solheim Cup at Gleneagles in Auchterarder, Scotland. Europe won the last three singles matches to claim victory 14½-13½
Getty
20/50 14 September 2019
Sunset at St Mary’s Lighthouse in Whitley Bay
PA
21/50 13 September 2019
Activists from PETA stage a demonstration outside a venue during London Fashion Week in London, Britain
Reuters
22/50 12 September 2019
Australia’s Marnus Labuschagne attempts to stop a boundary in the fifth Test
Action Images via Reuters
23/50 11 September 2019
Storm clouds gather over the pier just off the North East coast at South Shields
PA
24/50 10 September 2019
The peloton rides past the Angel of the North during stage four of the Tour of Britain from Gateshead to Kendal
PA
25/50 9 September 2019
A penny farthing cyclist rides past St. John’s, Smith Square, Westminster, London
PA
26/50 8 September 2019
Australia celebrate the wicket of England’s Craig Overton, which meant they won the fourth test and retained the Ashes
Action Images via Reuters
27/50 7 September 2019
Manchester City celebrate after Caroline Weir scored during their Women’s Super League match against Manchester United at Etihad Stadium. The WSL attendance record was smashed with 31,213 people watching the first Manchester derby of Women’s Super League era – nearly six times the previous WSL record
Getty
28/50 6 September 2019
A bull bumps into a plain clothes police officer (left) while being walked by Prime Minister Boris Johnson during his visit to Darnford Farm in Banchory near Aberdeen. It coincided with the publication of Lord Bew’s review and an announcement of extra funding for Scottish farmers
PA
29/50 5 September 2019
First Minister Nicola Sturgeon cuts the hair of David Torrance MSP raising £1000 for the charity Maggie’s Centre in Kirkcaldy at the Scottish Parliament in Edinburgh
PA
30/50 4 September 2019
Australia’s David Warner looks dejected after being dismissed by England’s Stuart Broad during day one of the fourth Ashes Test at Old Trafford in Manchester
Getty
31/50 3 September 2019
Anti Brexit demonstrators attend a protest at Parliament Square. Lawmakers returned from their summer recess Tuesday for a pivotal day in British politics as they challenged Prime Minister Boris Johnson’s insistence that the UK leave the European Union on 31 October, even without a withdrawal agreement to cushion the economic blow
AP
32/50 2 September 2019
Set building begins on Waterloo Place in Edinburgh ahead of filming for Fast and Furious 9
PA
33/50 1 September 2019
Members of the Royal Southern Yacht Club and the Island Sailing Club take part during the annual cricket match between the clubs, which takes place on the Bramble Bank sandbank in the middle of the Solent at low tide
PA
34/50 31 August 2019
Anti-Brexit protesters demonstrate at Whitehall in London
SWNS
35/50 30 August 2019
One of the iconic ‘Girl with Balloon’ artworks by anonymous street artist Banksy is carried near one of the original locations the artwork appeared at on the Southbank in London
AP
36/50 29 August 2019
The sun rises over the sculpture “The Couple” by artist Sean Henry, at Newbiggin-by-the-sea in Northumberland
PA
37/50 28 August 2019
A person wearing a Boris Johnson ‘head’ digs a grave at the foot of a tombstone during a protest organised by Avaaz and Best for Britain, outside Downing Street in London
PA
38/50 27 August 2019
Nat Lofthouse statue is covered in flags at the University of Bolton Stadium, Bolton
Action Images via Reuters
39/50 26 August 2019
Performers take part in Notting Hill Carnival. Nearly one million people were expected to attend Sunday and Monday’s carnival to celebrate Caribbean culture
AFP/Getty
40/50 25 August 2019
A competitor swims in the World Bog Snorkelling Championships in Llanwryd Wells, Powys
Reuters
41/50 24 August 2019
People flock to Bournemouth beach as a heatwave spells potentially record high temperatures for the bank holiday weekend
PA
42/50 23 August 2019
Fans of Bury FC deliver a symbolic coffin to the club’s home at Gigg Lane as the continuation of their membership to the football league lies in doubt. The club will lose their membership at midnight if they don’t find a buyer or prove that they have the means to pay off their debts
PA
43/50 22 August 2019
Labour Leader Jeremy Corbyn and Shadow DEFRA Secretary Sue Hayman during a visit to Rakefoot Farm, Castlerigg, Keswick where they are highlighting the danger of a No Deal Brexit to sheep farmers
PA
44/50 21 August 2019
Festival goers walk along the towpath of the River Thames as they arrive for the Reading Festival at Richfield Avenue
PA
45/50 20 August 2019
Police officers gather to pay their respects at the scene near Ufton Lane, where Thames Valley Police officer PC Andrew Harper, 28, died on Thursday. Jed Foster, 20, has appeared at Reading Magristrates’ Court where denied any involvement with the murder
PA
46/50 19 August 2019
A fire that broke out at the site of Village Bakery on Coed Aben Road, Wrexham Industrial Estate in Wales
Jord_wxm29/Twitter/PA
47/50 18 August 2019
England fielders crowd Pat Cummins as he see’s out the final over during day five of the second Ashes Test match against Australia at Lord’s Cricket Ground. The test ended in a draw
Getty
48/50 17 August 2019
Glew (centre) and Monroe Adams (right) pose for a selfie with a member of the public outside DragWorld London 2019, Europe’s largest drag convention, featuring drag stars from the US and UK during a two-day event at Olympia, London
PA
49/50 16 August 2019
A grey seal with fishing net tangled around its neck amongst the colony on the beach at Horsey in Norfolk, as RSPCA data show the number of animals affected by plastic litter is at an all-time high, with incidents increasing by 22% in just four years
PA
50/50 15 August 2019
A flock of sheep are herded past government buildings in London by members of Farmers for a People’s Vote, a campaign group
PA
1/50 3 October 2019
Police stands in front of the Treasury building during an Extinction Rebellion protest in London
Reuters
2/50 2 October 2019
Ex-Thomas Cook employees demonstrate in London after delivering a petition calling for a full inquiry into Thomas Cook’s collapse and for the company’s directors to pay back their bonuses
AFP/Getty Images
3/50 1 October 2019
A road in Alum Rock, Birmingham is flooded after persistent heavy rain
PA
4/50 30 September 2019
Two tourists pose for pictures in front of Union and EU flags outside the Houses of Parliament in London
PA
5/50 29 September 2019
A sheep on London Bridge as Freemen of the City of London took up their historic entitlement to drive sheep over the bridge, which was once London’s only river crossing
PA
6/50 28 September 2019
An Aldabra giant tortoise is fed watermelon as a treat at the Malvern Autumn Show, at the Three Counties Showground near Malvern in Worcestershire
PA
7/50 27 September 2019
Gallery assistants pose with an artwork entitled ‘Devolved Parliament’ by British artist Banksy, during a press view in London ahead of Sotheby’s contemporary art sale, as part of the Frieze Art Fair
AFP/Getty
8/50 26 September 2019
England’s Jonathan Joseph is tackled by United State’s Marcel Brache during their group match at the Rugby World Cup in Japan. England scored seven tries on their way to winning 45-7
Reuters
9/50 25 September 2019
Tributes for former Rangers player Fernando Ricksen at Ibrox Stadium. Today, the funeral procession will pass Ibrox Stadium before making the journey to Wellington Church
PA
10/50 24 September 2019
A person dressed as a caricature of Prime Minister Boris Johnson in a prison uniform stands outside the Supreme Court after it ruled that his decision to suspend Parliament was illegal
AFP/Getty
11/50 23 September 2019
Thomas Cook aircraft are parked up at Manchester Airport on the day they collapsed after rescue talks failed. A total of 22,000 jobs – including 9,000 in UK – are to be lost following administration. More than 150,000 British holidaymakers need to be brought home, with the government and CAA hiring dozens of charter planes to fly customers home free of charge
Getty
12/50 22 September 2019
Fire performer Penella Bee performs before people take part in the North East Skinny Dip at Druridge Bay in Nothumberland, an annual event that marks the Autumn Equinox and raises money for MIND – the Mental Health Charity
PA
13/50 21 September 2019
Protesters gather for a march and rally organised by “The People’s Vote” in Brighton, to call for politicians to give the public a final say referendum on Brexit
AFP/Getty
14/50 20 September 2019
Protesters in London joined millions across world to demand urgent action to save planet in the largest environmental protest in history
Angela Christofilou/The Independent
15/50 19 September 2019
Rapper Dave poses with the Mercury Prize: Albums of the Year Award at Apollo
Getty
16/50 18 September 2019
A surfer in action during sunrise at Tynemouth on the north east coast
PA
17/50 17 September 2019
Protesters dressed as the Incredible Hulk and Robocop outside the Supreme Court in London where judges are due to consider legal challenges to Prime Minister Boris Johnson’s decision to suspend Parliament. The Supreme Court will hear appeals over three days from two separate challenges to the prorogation of Parliament brought in England and Scotland
PA
18/50 16 September 2019
Farmer Tom Hoggard harvests pumpkins at Howe Bridge Farm in Yorkshire, ahead of Halloween
PA
19/50 15 September 2019
Team Europe celebrate winning the Solheim Cup at Gleneagles in Auchterarder, Scotland. Europe won the last three singles matches to claim victory 14½-13½
Getty
20/50 14 September 2019
Sunset at St Mary’s Lighthouse in Whitley Bay
PA
21/50 13 September 2019
Activists from PETA stage a demonstration outside a venue during London Fashion Week in London, Britain
Reuters
22/50 12 September 2019
Australia’s Marnus Labuschagne attempts to stop a boundary in the fifth Test
Action Images via Reuters
23/50 11 September 2019
Storm clouds gather over the pier just off the North East coast at South Shields
PA
24/50 10 September 2019
The peloton rides past the Angel of the North during stage four of the Tour of Britain from Gateshead to Kendal
PA
25/50 9 September 2019
A penny farthing cyclist rides past St. John’s, Smith Square, Westminster, London
PA
26/50 8 September 2019
Australia celebrate the wicket of England’s Craig Overton, which meant they won the fourth test and retained the Ashes
Action Images via Reuters
27/50 7 September 2019
Manchester City celebrate after Caroline Weir scored during their Women’s Super League match against Manchester United at Etihad Stadium. The WSL attendance record was smashed with 31,213 people watching the first Manchester derby of Women’s Super League era – nearly six times the previous WSL record
Getty
28/50 6 September 2019
A bull bumps into a plain clothes police officer (left) while being walked by Prime Minister Boris Johnson during his visit to Darnford Farm in Banchory near Aberdeen. It coincided with the publication of Lord Bew’s review and an announcement of extra funding for Scottish farmers
PA
29/50 5 September 2019
First Minister Nicola Sturgeon cuts the hair of David Torrance MSP raising £1000 for the charity Maggie’s Centre in Kirkcaldy at the Scottish Parliament in Edinburgh
PA
30/50 4 September 2019
Australia’s David Warner looks dejected after being dismissed by England’s Stuart Broad during day one of the fourth Ashes Test at Old Trafford in Manchester
Getty
31/50 3 September 2019
Anti Brexit demonstrators attend a protest at Parliament Square. Lawmakers returned from their summer recess Tuesday for a pivotal day in British politics as they challenged Prime Minister Boris Johnson’s insistence that the UK leave the European Union on 31 October, even without a withdrawal agreement to cushion the economic blow
AP
32/50 2 September 2019
Set building begins on Waterloo Place in Edinburgh ahead of filming for Fast and Furious 9
PA
33/50 1 September 2019
Members of the Royal Southern Yacht Club and the Island Sailing Club take part during the annual cricket match between the clubs, which takes place on the Bramble Bank sandbank in the middle of the Solent at low tide
PA
34/50 31 August 2019
Anti-Brexit protesters demonstrate at Whitehall in London
SWNS
35/50 30 August 2019
One of the iconic ‘Girl with Balloon’ artworks by anonymous street artist Banksy is carried near one of the original locations the artwork appeared at on the Southbank in London
AP
36/50 29 August 2019
The sun rises over the sculpture “The Couple” by artist Sean Henry, at Newbiggin-by-the-sea in Northumberland
PA
37/50 28 August 2019
A person wearing a Boris Johnson ‘head’ digs a grave at the foot of a tombstone during a protest organised by Avaaz and Best for Britain, outside Downing Street in London
PA
38/50 27 August 2019
Nat Lofthouse statue is covered in flags at the University of Bolton Stadium, Bolton
Action Images via Reuters
39/50 26 August 2019
Performers take part in Notting Hill Carnival. Nearly one million people were expected to attend Sunday and Monday’s carnival to celebrate Caribbean culture
AFP/Getty
40/50 25 August 2019
A competitor swims in the World Bog Snorkelling Championships in Llanwryd Wells, Powys
Reuters
41/50 24 August 2019
People flock to Bournemouth beach as a heatwave spells potentially record high temperatures for the bank holiday weekend
PA
42/50 23 August 2019
Fans of Bury FC deliver a symbolic coffin to the club’s home at Gigg Lane as the continuation of their membership to the football league lies in doubt. The club will lose their membership at midnight if they don’t find a buyer or prove that they have the means to pay off their debts
PA
43/50 22 August 2019
Labour Leader Jeremy Corbyn and Shadow DEFRA Secretary Sue Hayman during a visit to Rakefoot Farm, Castlerigg, Keswick where they are highlighting the danger of a No Deal Brexit to sheep farmers
PA
44/50 21 August 2019
Festival goers walk along the towpath of the River Thames as they arrive for the Reading Festival at Richfield Avenue
PA
45/50 20 August 2019
Police officers gather to pay their respects at the scene near Ufton Lane, where Thames Valley Police officer PC Andrew Harper, 28, died on Thursday. Jed Foster, 20, has appeared at Reading Magristrates’ Court where denied any involvement with the murder
PA
46/50 19 August 2019
A fire that broke out at the site of Village Bakery on Coed Aben Road, Wrexham Industrial Estate in Wales
Jord_wxm29/Twitter/PA
47/50 18 August 2019
England fielders crowd Pat Cummins as he see’s out the final over during day five of the second Ashes Test match against Australia at Lord’s Cricket Ground. The test ended in a draw
Getty
48/50 17 August 2019
Glew (centre) and Monroe Adams (right) pose for a selfie with a member of the public outside DragWorld London 2019, Europe’s largest drag convention, featuring drag stars from the US and UK during a two-day event at Olympia, London
PA
49/50 16 August 2019
A grey seal with fishing net tangled around its neck amongst the colony on the beach at Horsey in Norfolk, as RSPCA data show the number of animals affected by plastic litter is at an all-time high, with incidents increasing by 22% in just four years
PA
50/50 15 August 2019
A flock of sheep are herded past government buildings in London by members of Farmers for a People’s Vote, a campaign group
PA
“The slowdown in manufacturing is spreading to services. We flagged that this print would be critical to market sentiment today and it’s clear that any optimism has been snuffed out,” said Neil Wilson, chief market analyst for Markets.com.
Commenting on the markets’ mood earlier, he said: “Investor confidence has crumbled off the back off a couple of weak US data prints, whilst impeachment talk and geopolitical troubles from Hong Kong to North Korea are not helping.
“European investors also battling the real prospect of a no-deal Brexit and worries about a new tariff war with the US.”
The European Parliament has said it would veto Mr Johnson’s latest Brexit proposals, warning that they are not “even remotely” acceptable as a solution to the Irish border problem.
In the US, a release on Tuesday revealed the worst downturn in manufacturing since 2009 in September.
Helal Miah, investment research analyst at The Share Centre, attributed the slump at US factories mainly to Donald Trump’s trade war with China.
“Car manufacturers are struggling with tariffs on imported steel, an unintended consequence of his America First policy; US farmers are struggling to find buyers for their produce as China looks elsewhere,” he said.
“At the same time, US semi-conductor manufacturers struggle to fill the demand vacated by Huawei who have made strides to replace US intellectual property in 5G technologies.”
The broader FTSE 250 index was also down, standing 1 per cent lower on the day.
