The so-called "magnificent seven" - which is made up of Nvidia, Alphabet, Amazon, Apple, Microsoft, Meta, and Tesla - has accounted for a large chunk of the more than $5tn (£3.9tn) the S&P 500 index has lost in value in recent trading sessions, Reuters news agency reported yesterday.

Trump's punishing tariffs have shaken a global trading order that has persisted for decades and raised fears of a recession.

Trump's punishing tariffs have shaken a global trading order that has persisted for decades, raised fears of recession and driven worldwide stocks sharply downward. The S&P closed below 5,000 for the first time in nearly a year on Tuesday and is nearing a bear market,

Sir Keir Starmer has insisted he will not put up taxes even if Donald Trump’s global trade war blows a hole in Britain’s public finances, as he vowed to prepare the country for “an era of global instability”.

British Prime Minister Keir Starmer said on Monday that his government's first reaction to higher tariffs imposed by U.S. President Donald Trump should not be to relax public borrowing rules.