Secretary of State Marco Rubio is in the heart of the European drama after Trump's tariff announcement, on travel to NATO headquarters in Brussels for a ministerial meeting of the alliance.

In meetings with NATO ministers, Mr. Rubio is expected to press Mr. Trump’s call for a swift end to the war in Ukraine, an approach that alarms many European leaders who overwhelmingly support Kyiv and fear that Mr. Trump will wind up appeasing Mr. Putin.

Britain’s FTSE 100 index has fallen 1.8 per cent to hit its lowest level since mid-January, as Donald Trump’s new trade tariffs caused another day of intense turbulence on the global markets.Asia-Pacific markets opened in the red for a second day after S&P 500 companies lost a combined $2.

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Stocks globally extended a punishing selloff on Friday in the wake of U.S. President Donald Trump's sweeping tariffs. Washington's steepest trade barriers in more than 100 years stoked have fears of a global recession. JP Morgan said it now sees a 60% chance of the global economy entering recession by year end.

It has strengthened this morning, following a plunge amid the tariff tumult. The pound is at a session low, now down by 0.8% and below $1.30. The euro has reversed an earlier rise against the US currency too.

As investors reel after the president announced across-the-board tariffs, attention turns to the Labor Department’s monthly report, which will be watched for any impact from federal job and budget cuts.

Bloomberg reporters answer questions about Trump’s reciprocal tariffs and how governments and markets are reacting.