President Donald Trump signed an executive order on Thursday imposing reciprocal tariffs ranging from 10% to 41% on U.S. imports from dozens of countries and foreign locations. Rates were set at 25% for India's U.

The Federal Reserve kept US interest rates on hold for the fifth meeting in a row yesterday, defying an aggressive campaign from President Donald Trump to slash borrowing costs. Fed chair Jay Powell said after the meeting that “it seems to me — and to almost the whole committee — that the economy is not performing as though restrictive policy is holding it back inappropriately”.