Trump's Tariffs and Pharma Demands Rattle British Markets

British equities fell sharply, led by the healthcare sector, after President Trump levied new tariffs and demanded lower drug prices. The FTSE 100 and FTSE 250 indices dropped amidst global trade tensions and weak U.S. jobs data. Key companies like AstraZeneca and GSK experienced significant declines.

British equities took a hit, primarily led by the healthcare sector, following President Donald Trump's introduction of new tariffs and his demand for reduced prescription drug prices from pharmaceutical companies.

The blue-chip FTSE 100 index saw a significant drop of 0.7%, marking its largest percentage decline in nearly four months, and breaking a six-week positive trend. The midcap FTSE 250 also fell by 1.2%, recording its second consecutive weekly decline.

The decline was amplified by weaker-than-anticipated U.S. jobs data, adding pressure to global shares amid Trump's latest trade measures, which impacted numerous international trade partners including Canada, Brazil, and India.

(With inputs from agencies.)