Trump revives trade war fears. The Dow drops more than 250 points while the S&P 500 has its worst day in two months as U.S. President Donald Trump surprises markets with tariffs on steel and aluminium imports from Brazil and Argentina. President Trump touches down in the U.K. for the NATO leaders meeting amid growing divisions in the alliance. He is due to meet with France's Emmanuel Macron, after the U.S. threatens one-hundred percent levies on up to $2.4 bn of French goods in response to France's digital-services tax. Washington also says it may raise duties on a variety of European products after the World Trade Organisation rejects claims by the EU that it no longer provides subsidies to Airbus.

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