Stocks nosedived for the second straight day on Friday as fears grow that an escalating global trade war will cut into corporate profits and stall economic growth.

Also troubling: The U.S. market has now wiped out $10 trillion in value since Inauguration Day. This likely marks the end of the bull market, says Emily Bowersock Hill, CEO and founding partner at Bowersock Capital Partners, "and it was destroyed by ideologues and self-inflicted wounds."

The S&P 500 tumbled 5.7 percent, and the Dow Jones Industrial Average plunged 2,054 points as Wall Street’s worst crisis since the COVID crash deepens.

HSBC analyst Frank Lee slashed his price target from $175 to $120 as he downgraded Nvidia's stock from a buy to a hold. Lee believes Nvidia will struggle to continue raising prices on its cutting-edge artificial intelligence (AI) chips, pointing to the lack of a significant bump for the newest B300 and GB300 Blackwell hardware.

We’ll be bringing you our analysis of what that might mean for the UK, along with everything else you need to know about UK markets here on