Global Markets Tumble Amidst New US Tariffs; UK House Prices Rise

Global markets experienced a downturn as US President Donald Trump announced new tariffs, impacting major indices like the FTSE 100, Germany’s Dax, and France’s Cac 40. US stock futures also indicated a significant drop. In domestic news, UK house prices saw a 2.4% rise in July, though this increase was not uniform across all regions. The manufacturing sector shows signs of a modest recovery, but persistent cost pressures and labour shortages remain challenges. Meanwhile, the car finance mis-selling saga awaits a Supreme Court verdict, with potential compensation for millions of motorists. Nationwide and Monzo have gained new customers, while Barclays and Halifax have seen significant losses in current account switching.

Sources

• Business news live: UK house prices rose 2.4% in July, FTSE 100 and stock markets fall as new Trump tariffs
  are announced, The Independent.