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class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/moral-money" aria-label="Category: Moral Money">Moral Money</a></div><div class="o-teaser__heading"><a href="/content/5619d4f2-a717-4058-942c-349737684c1d" data-trackable="heading-link" class="js-teaser-heading-link">Can the Net-Zero Banking Alliance retain its sole Japanese member? </a><span> <span class="o-labels o-labels--premium o-labels--content-premium">Premium</span><span class="o-normalise-visually-hidden"> content</span></span></div><p class="o-teaser__standfirst"><a href="/content/5619d4f2-a717-4058-942c-349737684c1d" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Five of the six Japanese members have left the group in the past month </a></p><div class="o-teaser__timestamp o-teaser__timestamp--new"><span class="o-teaser__timestamp-prefix"> new </span><time class="o-teaser__timestamp-date o-date" data-o-component="o-date" 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class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-07T10:36:07.239Z">Monday, 7 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="1902feb4-9c1c-4c90-ba6b-235e89fda784" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="1902feb4-9c1c-4c90-ba6b-235e89fda784"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/trump-tariffs" aria-label="Category: Trump tariffs">Trump tariffs</a></div><div class="o-teaser__heading"><a href="/content/1902feb4-9c1c-4c90-ba6b-235e89fda784" data-trackable="heading-link" class="js-teaser-heading-link">Trump tracker: the latest data on US tariffs, trade and economy</a></div><p class="o-teaser__standfirst"><a href="/content/1902feb4-9c1c-4c90-ba6b-235e89fda784" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">As the president launches a trade war, follow the latest data on imports, exports and trade balances</a></p><div class="o-teaser__timestamp o-teaser__timestamp--updated"><span class="o-teaser__timestamp-prefix"> updated </span><time class="o-teaser__timestamp-date o-date" data-o-component="o-date" data-o-date-format="time-ago-limit-4-hours" datetime="2025-04-07T10:36:07+0000"></time></div><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="1902feb4-9c1c-4c90-ba6b-235e89fda784" data-myft-ui="saved" action="/myft/save/1902feb4-9c1c-4c90-ba6b-235e89fda784" data-js-action="/__myft/api/core/saved/content/1902feb4-9c1c-4c90-ba6b-235e89fda784?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement 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<div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-07T10:34:56.189Z">Monday, 7 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="edd57711-5e12-4892-bc72-253ee7a3fd11" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="edd57711-5e12-4892-bc72-253ee7a3fd11"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/trump-tariffs" aria-label="Category: Trump tariffs">Trump tariffs</a></div><div class="o-teaser__heading"><a href="/content/edd57711-5e12-4892-bc72-253ee7a3fd11" data-trackable="heading-link" class="js-teaser-heading-link">JPMorgan chief Dimon warns trade war risks recession and higher prices</a></div><p class="o-teaser__standfirst"><a href="/content/edd57711-5e12-4892-bc72-253ee7a3fd11" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Donald Trump’s tariffs could cause long-lasting damage to US alliances, Wall Street banker tells shareholders</a></p><div class="o-teaser__timestamp o-teaser__timestamp--updated"><span class="o-teaser__timestamp-prefix"> updated </span><time class="o-teaser__timestamp-date o-date" data-o-component="o-date" data-o-date-format="time-ago-limit-4-hours" datetime="2025-04-07T10:34:56+0000"></time></div><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="edd57711-5e12-4892-bc72-253ee7a3fd11" data-myft-ui="saved" action="/myft/save/edd57711-5e12-4892-bc72-253ee7a3fd11" data-js-action="/__myft/api/core/saved/content/edd57711-5e12-4892-bc72-253ee7a3fd11?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" 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class="o-teaser__image-placeholder" style="padding-bottom:56.2445%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fc89d4380-4734-447b-89fb-9611e6c4d603.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Jamie Dimon speaks at a conference"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-07T10:33:50.082Z">Monday, 7 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="994616da-d637-48aa-8599-cbcf1c88d0d4" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="994616da-d637-48aa-8599-cbcf1c88d0d4"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/gideon-rachman" aria-label="Category: Gideon Rachman">Gideon Rachman</a></div><div class="o-teaser__heading"><a href="/content/994616da-d637-48aa-8599-cbcf1c88d0d4" data-trackable="heading-link" class="js-teaser-heading-link">Trump and the mob boss approach to global markets</a></div><p class="o-teaser__standfirst"><a href="/content/994616da-d637-48aa-8599-cbcf1c88d0d4" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">The US president discovers that it is easier to shake down a law firm than to reshape the international trading system</a></p><div class="o-teaser__timestamp o-teaser__timestamp--new"><span class="o-teaser__timestamp-prefix"> new </span><time class="o-teaser__timestamp-date o-date" data-o-component="o-date" data-o-date-format="time-ago-limit-4-hours" datetime="2025-04-07T10:33:50+0000"></time></div><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="994616da-d637-48aa-8599-cbcf1c88d0d4" data-myft-ui="saved" action="/myft/save/994616da-d637-48aa-8599-cbcf1c88d0d4" data-js-action="/__myft/api/core/saved/content/994616da-d637-48aa-8599-cbcf1c88d0d4?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Trump and the mob boss approach to global markets to myFT for later" aria-label="Save Trump and the mob boss approach to global markets to myFT for later" data-alternate-label="Trump and the mob boss approach to global markets is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " 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data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-07T10:24:59.855Z">Monday, 7 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="26d15d7e-dd36-4ca1-b974-da8a57bce290" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="26d15d7e-dd36-4ca1-b974-da8a57bce290"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Data Points</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/stream/e191658e-c66a-45bc-9bad-343bdc4210b3" aria-label="Category: John Burn-Murdoch">John Burn-Murdoch</a></div><div class="o-teaser__heading"><a href="/content/26d15d7e-dd36-4ca1-b974-da8a57bce290" data-trackable="heading-link" class="js-teaser-heading-link">Trump chaos is alienating Republicans</a></div><p class="o-teaser__standfirst"><a href="/content/26d15d7e-dd36-4ca1-b974-da8a57bce290" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Outside of the Maga ecosystem, bad economic news is starting to cut through</a></p><div class="o-teaser__timestamp o-teaser__timestamp--updated"><span class="o-teaser__timestamp-prefix"> updated </span><time class="o-teaser__timestamp-date o-date" data-o-component="o-date" data-o-date-format="time-ago-limit-4-hours" datetime="2025-04-07T10:24:59+0000"></time></div><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="26d15d7e-dd36-4ca1-b974-da8a57bce290" data-myft-ui="saved" action="/myft/save/26d15d7e-dd36-4ca1-b974-da8a57bce290" data-js-action="/__myft/api/core/saved/content/26d15d7e-dd36-4ca1-b974-da8a57bce290?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." 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data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fd62a7211-49dc-4e03-a8f2-d26d6d9f0eeb.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="FT montage of Donald Trump wearing a Maga cap, with a chart line falling behind him"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-07T10:21:58.987Z">Monday, 7 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="3aa6175e-e246-4d4f-81eb-62d6123e4c7c" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="3aa6175e-e246-4d4f-81eb-62d6123e4c7c"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/uk-financial-regulation" aria-label="Category: UK financial regulation">UK financial regulation</a></div><div class="o-teaser__heading"><a href="/content/3aa6175e-e246-4d4f-81eb-62d6123e4c7c" data-trackable="heading-link" class="js-teaser-heading-link">UK to dilute rules for smaller private equity firms and hedge funds</a></div><p class="o-teaser__standfirst"><a href="/content/3aa6175e-e246-4d4f-81eb-62d6123e4c7c" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Government proposes lighter regulatory regime in push to encourage investment </a></p><div class="o-teaser__timestamp o-teaser__timestamp--updated"><span class="o-teaser__timestamp-prefix"> updated </span><time class="o-teaser__timestamp-date o-date" data-o-component="o-date" data-o-date-format="time-ago-limit-4-hours" datetime="2025-04-07T10:21:58+0000"></time></div><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" 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datetime="2025-04-07T10:12:32.530Z">Monday, 7 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="0ecfd40e-f73c-4cb2-b7e4-ca2f2a6c7c12" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="0ecfd40e-f73c-4cb2-b7e4-ca2f2a6c7c12"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/oil" aria-label="Category: Oil">Oil</a></div><div class="o-teaser__heading"><a href="/content/0ecfd40e-f73c-4cb2-b7e4-ca2f2a6c7c12" data-trackable="heading-link" class="js-teaser-heading-link">Oil drops further as fears of global recession rise</a></div><p class="o-teaser__standfirst"><a href="/content/0ecfd40e-f73c-4cb2-b7e4-ca2f2a6c7c12" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Trump’s signal to push ahead with sweeping tariffs hits crude</a></p><div class="o-teaser__timestamp o-teaser__timestamp--new"><span class="o-teaser__timestamp-prefix"> new </span><time class="o-teaser__timestamp-date o-date" data-o-component="o-date" data-o-date-format="time-ago-limit-4-hours" datetime="2025-04-07T10:12:32+0000"></time></div><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="0ecfd40e-f73c-4cb2-b7e4-ca2f2a6c7c12" data-myft-ui="saved" action="/myft/save/0ecfd40e-f73c-4cb2-b7e4-ca2f2a6c7c12" data-js-action="/__myft/api/core/saved/content/0ecfd40e-f73c-4cb2-b7e4-ca2f2a6c7c12?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Oil drops further as fears of global recession 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numerous large oil storage containers at a Chevron refinery in Pasadena, Texas"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-07T10:06:08.927Z">Monday, 7 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="55b6ea41-4813-4722-9ca2-6038865f4e53" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="55b6ea41-4813-4722-9ca2-6038865f4e53"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/firstft" aria-label="Category: FirstFT">FirstFT</a></div><div class="o-teaser__heading"><a href="/content/55b6ea41-4813-4722-9ca2-6038865f4e53" data-trackable="heading-link" class="js-teaser-heading-link">FirstFT: Global market rout over Trump tariffs continues</a></div><p class="o-teaser__standfirst"><a href="/content/55b6ea41-4813-4722-9ca2-6038865f4e53" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Also in today’s newsletter, UK to water down private equity rules and Marine Le Pen denounces “witch-hunt”</a></p><div class="o-teaser__timestamp o-teaser__timestamp--"><time class="o-teaser__timestamp-date o-date" data-o-component="o-date" data-o-date-format="time-ago-limit-4-hours" datetime="2025-04-07T10:06:08+0000">1 hour ago</time></div><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="55b6ea41-4813-4722-9ca2-6038865f4e53" data-myft-ui="saved" action="/myft/save/55b6ea41-4813-4722-9ca2-6038865f4e53" data-js-action="/__myft/api/core/saved/content/55b6ea41-4813-4722-9ca2-6038865f4e53?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div 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aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2691%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F8d6fb79d-0a63-42e7-a431-a83c412bfe80.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Traders in South Korea"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-07T10:01:58.299Z">Monday, 7 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="44ea27d8-f166-41e5-b347-dbd39dc9b7de" data-stream-item> <div class="o-teaser o-teaser--live-blog-package o-teaser--small o-teaser--has-image o-teaser--live js-teaser" data-id="44ea27d8-f166-41e5-b347-dbd39dc9b7de"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/ft-live-news" aria-label="Category: FT live news">FT live news</a></div><div class="o-teaser__heading"><a href="/content/44ea27d8-f166-41e5-b347-dbd39dc9b7de" data-trackable="heading-link" class="js-teaser-heading-link">Wall Street’s ‘fear gauge’ soars to 8-month high</a></div><div class="o-teaser__timestamp o-teaser__timestamp--live"><span class="o-teaser__timestamp-prefix"> Live </span></div><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="44ea27d8-f166-41e5-b347-dbd39dc9b7de" data-myft-ui="saved" action="/myft/save/44ea27d8-f166-41e5-b347-dbd39dc9b7de" data-js-action="/__myft/api/core/saved/content/44ea27d8-f166-41e5-b347-dbd39dc9b7de?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" 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Politics">Inside Politics</a></div><div class="o-teaser__heading"><a href="/content/837e5b24-e261-43e0-ba16-79cc86f7eb32" data-trackable="heading-link" class="js-teaser-heading-link">The limits of the UK-US ‘special relationship’</a></div><p class="o-teaser__standfirst"><a href="/content/837e5b24-e261-43e0-ba16-79cc86f7eb32" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Britain lacks leverage in Trump tariff negotiations, with UK diplomatic and economic priorities looking increasingly European</a></p><div class="o-teaser__timestamp o-teaser__timestamp--"><time class="o-teaser__timestamp-date o-date" data-o-component="o-date" data-o-date-format="time-ago-limit-4-hours" datetime="2025-04-07T08:45:44+0000">2 hours ago</time></div><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="837e5b24-e261-43e0-ba16-79cc86f7eb32" data-myft-ui="saved" action="/myft/save/837e5b24-e261-43e0-ba16-79cc86f7eb32" 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class="o-teaser__image-container js-teaser-image-container"><a href="/content/837e5b24-e261-43e0-ba16-79cc86f7eb32" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2726%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fd359381e-cd04-47e0-84ac-768d257882d2.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Keir Starmer"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-07T08:36:42.767Z">Monday, 7 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="b418d001-b1cf-4f0e-93f0-50470f40e97a" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="b418d001-b1cf-4f0e-93f0-50470f40e97a"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/global-trade" aria-label="Category: Global trade">Global trade</a></div><div class="o-teaser__heading"><a href="/content/b418d001-b1cf-4f0e-93f0-50470f40e97a" data-trackable="heading-link" class="js-teaser-heading-link">So much winning — in 15 charts</a></div><p class="o-teaser__standfirst"><a href="/content/b418d001-b1cf-4f0e-93f0-50470f40e97a" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">The fallout from ‘Liquidation Day’</a></p><div class="o-teaser__timestamp o-teaser__timestamp--"><time class="o-teaser__timestamp-date o-date" data-o-component="o-date" data-o-date-format="time-ago-limit-4-hours" datetime="2025-04-07T08:36:42+0000">2 hours ago</time></div><div class="o-teaser__action"><span> <form class="n-myft-ui 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data-id="1d82d1e1-6e17-44c8-96df-753544d5f6da" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="1d82d1e1-6e17-44c8-96df-753544d5f6da"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/uk-house-prices" aria-label="Category: UK house prices">UK house prices</a></div><div class="o-teaser__heading"><a href="/content/1d82d1e1-6e17-44c8-96df-753544d5f6da" data-trackable="heading-link" class="js-teaser-heading-link">UK house prices fall unexpectedly in March</a></div><p class="o-teaser__standfirst"><a href="/content/1d82d1e1-6e17-44c8-96df-753544d5f6da" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">The 0.5% contraction according to Halifax contrasts with economists’ bets of a 0.1% rise</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" 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</div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="fffa7082-7723-48f8-a0cc-b21dfdc59cc4" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="fffa7082-7723-48f8-a0cc-b21dfdc59cc4"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/trump-tariffs" aria-label="Category: Trump tariffs">Trump tariffs</a></div><div class="o-teaser__heading"><a href="/content/fffa7082-7723-48f8-a0cc-b21dfdc59cc4" data-trackable="heading-link" class="js-teaser-heading-link">The weekend Trump’s tariff threats became real for global investors</a></div><p class="o-teaser__standfirst"><a href="/content/fffa7082-7723-48f8-a0cc-b21dfdc59cc4" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">If global long-only funds start to rotate out of risk the market, turmoil could get worse</a></p><div class="o-teaser__action"><span> <form 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data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-07T05:30:34.160Z">Monday, 7 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="ce09bfcc-f84e-4c26-b1c4-616fc23daacb" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="ce09bfcc-f84e-4c26-b1c4-616fc23daacb"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Unhedged</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/robert-armstrong" aria-label="Category: Robert Armstrong">Robert Armstrong</a></div><div class="o-teaser__heading"><a href="/content/ce09bfcc-f84e-4c26-b1c4-616fc23daacb" data-trackable="heading-link" class="js-teaser-heading-link">Solving for three variables with markets in chaos</a><span> <span class="o-labels o-labels--premium o-labels--content-premium">Premium</span><span class="o-normalise-visually-hidden"> content</span></span></div><p class="o-teaser__standfirst"><a href="/content/ce09bfcc-f84e-4c26-b1c4-616fc23daacb" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">And a warning from Canada’s job numbers</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="ce09bfcc-f84e-4c26-b1c4-616fc23daacb" data-myft-ui="saved" action="/myft/save/ce09bfcc-f84e-4c26-b1c4-616fc23daacb" data-js-action="/__myft/api/core/saved/content/ce09bfcc-f84e-4c26-b1c4-616fc23daacb?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Solving for 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data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F3e6ace30-f698-4d4c-8bfb-1ca7c1296d67.jpg?source=next&fit=scale-down&dpr=2&width=240" alt=""/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-07T05:00:34.226Z">Monday, 7 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="6e85fffd-cf94-4188-9e73-b81041921494" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="6e85fffd-cf94-4188-9e73-b81041921494"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/europe-express" aria-label="Category: Europe Express">Europe Express</a></div><div class="o-teaser__heading"><a href="/content/6e85fffd-cf94-4188-9e73-b81041921494" data-trackable="heading-link" class="js-teaser-heading-link">How the EU could boost its defence capabilities with an arms-buyers’ club</a><span> <span class="o-labels o-labels--premium o-labels--content-premium">Premium</span><span class="o-normalise-visually-hidden"> content</span></span></div><p class="o-teaser__standfirst"><a href="/content/6e85fffd-cf94-4188-9e73-b81041921494" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Also in this newsletter: Why Meloni holds the keys to the EU response to Trump’s tariffs</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="6e85fffd-cf94-4188-9e73-b81041921494" data-myft-ui="saved" action="/myft/save/6e85fffd-cf94-4188-9e73-b81041921494" data-js-action="/__myft/api/core/saved/content/6e85fffd-cf94-4188-9e73-b81041921494?method=put" data-myft-ui-save-config=""> <input 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js-teaser-image-container"><a href="/content/6e85fffd-cf94-4188-9e73-b81041921494" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2445%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F9d3b6402-ee1c-4926-9da2-2dc0056f0f57.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="A store of refurbished German-made Leopard 1 battle tanks at the OIP Land Systems SA factory in Tournai, Belgium"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-07T05:00:34.224Z">Monday, 7 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="2e88e9ef-5026-44e3-89f9-c7a09ae7eefe" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="2e88e9ef-5026-44e3-89f9-c7a09ae7eefe"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/asset-management" aria-label="Category: FT Asset Management">FT Asset Management</a></div><div class="o-teaser__heading"><a href="/content/2e88e9ef-5026-44e3-89f9-c7a09ae7eefe" data-trackable="heading-link" class="js-teaser-heading-link">Hedge funds hit with steep margin calls</a></div><p class="o-teaser__standfirst"><a href="/content/2e88e9ef-5026-44e3-89f9-c7a09ae7eefe" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Plus, Fink warns on protectionism, US junk bonds sell-off, and the Dolce Vita Orient Express </a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" 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class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/2e88e9ef-5026-44e3-89f9-c7a09ae7eefe" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2857%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F8fac44ad-40d5-454d-ae10-5ddcfba82e1a.png?source=next&fit=scale-down&dpr=2&width=240" alt="Chart showing the steep fall in the Stoxx Europe 600 and the S&P 500 after Donald Trump’s so-called ‘liberation day’"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-07T05:00:34.198Z">Monday, 7 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="45a441c9-26e0-4de3-b985-faafc5968a49" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="45a441c9-26e0-4de3-b985-faafc5968a49"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/uk-quantitative-easing" aria-label="Category: UK quantitative easing">UK quantitative easing</a></div><div class="o-teaser__heading"><a href="/content/45a441c9-26e0-4de3-b985-faafc5968a49" data-trackable="heading-link" class="js-teaser-heading-link">Where the Bank of England’s QE programme went wrong</a></div><p class="o-teaser__standfirst"><a href="/content/45a441c9-26e0-4de3-b985-faafc5968a49" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">And what can still be done about it</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="45a441c9-26e0-4de3-b985-faafc5968a49" data-myft-ui="saved" action="/myft/save/45a441c9-26e0-4de3-b985-faafc5968a49" data-js-action="/__myft/api/core/saved/content/45a441c9-26e0-4de3-b985-faafc5968a49?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Where the Bank of England’s QE programme went wrong to myFT for later" aria-label="Save Where the Bank of England’s QE programme went wrong to myFT for later" data-alternate-label="Where the Bank of England’s QE programme went wrong is Saved to myFT" aria-pressed="false" 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datetime="2025-04-07T04:54:47.899Z">Monday, 7 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="b33323ee-af23-4289-9dec-2a78ad7630b7" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="b33323ee-af23-4289-9dec-2a78ad7630b7"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/global-economy" aria-label="Category: Global Economy">Global Economy</a></div><div class="o-teaser__heading"><a href="/content/b33323ee-af23-4289-9dec-2a78ad7630b7" data-trackable="heading-link" class="js-teaser-heading-link">Goldman Sachs sees US recession if full tariffs go into effect</a></div><p class="o-teaser__standfirst"><a href="/content/b33323ee-af23-4289-9dec-2a78ad7630b7" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">And it’s almost 50-50 even if they don’t </a></p><div 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