FTSE 100 dips as China tariffs and geopolitical tensions weigh on banks and tech stocks

The FTSE 100 fell 29 points to 10,304, dragged down by major banks like Prudential, HSBC, and Standard Chartered due to concerns over new US tariffs targeting China and geopolitical tensions in the Middle East. US markets showed mixed futures with tech stocks like Broadcom and CrowdStrike dropping sharply after earnings and outlook disappointments, signaling potential profit-taking in overheated AI sectors. Meanwhile, UK construction output fell at its fastest pace in six years, and UK car sales rose driven by electric vehicles, highlighting mixed economic signals. Investors are cautious amid rising inflation, potential earlier Fed rate hikes, and a wave of upcoming IPOs including SpaceX, which is targeting a $1.77 trillion valuation.