Global stocks weakened on Friday after Donald Trump hit dozens of countries with tariffs, as the US president pushed ahead with his ambition to redraw the global trading order. Futures tracking the S&P 500 and Nasdaq fell 0.4 per cent and 0.5 per cent, respectively. The broad Stoxx Europe 600 was down 0.9 per cent.

President Donald Trump has unveiled a slew of new tariffs globally as the deadline for his levies falls, boosting the average US rate on goods from across the world. The baseline rates for many trading partners will remain unchanged at 10% from what was imposed in April,