StockMarketWire.com - Global markets tumbled into the red following US President Donald Trump's decision to impose $50bn worth of tariffs on Chinese imports, reviving fears of a trade war.

The FTSE 100 fell 1.7% to 7,633.

Brent crude oil sharply declined 3.6% to $73.18 ahead of an oil cartel meeting where production is expected to be hiked.

In the US, investor sentiment was also negative with the Dow Jones recording the biggest decline of 0.8% to 24,962.

MID AND LARGE CAP RISERS AND FALLERS

Shares in Indivior (INDV) crashed 27.1% to 360.5p after Dr Reddy's Laboratories received approval from regulatory authorities for a generic version of Indivior's opioid addiction therapy Suboxone.

UK supermarket Tesco (TSCO) enjoyed a 2% rise to 254.8p following positive like-for-like sales growth for the tenth consecutive quarter despite adverse weather conditions in March.

Rolls-Royce (RR.) revealed further details of its restructuring plan, which is anticipated to deliver savings of £400m, helping the shares accelerate 8.6% to 958.9p.

Healthcare company BTG (BTG) deflated 4% to 520p after the US Food and Administration advisory panel voted against the approval of its PneumRx coils in the EU for the treatment of severe emphysema.

SMALL CAP RISERS AND FALLERS

Andalas Energy and Power (ADL) said it was evaluating a number oil and gas projects, including the Bunga Mas, an asset in Indonesia. Shares in the company catapulted 43.4% to 0.02p after responding to social media speculation.

Orosur Mining (OMI) plummeted 38.3% to 2.4p following its decision to commence reorganisation proceedings in a bid to protect the business and preserve cash.

Disruptive estate agent Purplebricks (PURP) retreated 1.1% to 352.6p on the announcement that it is expanding its services to Las Vegas and Phoenix in the US.

An upbeat trading update at staffing firm SThree (STHR) caused the stock to gain 2.2% to 337p.


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