Asian markets are down despite Trump's tariff pause, ending a brief relief rally. Investors remain wary due to ongoing US-China trade tensions and high tariff rates. US futures are also falling, reflecting persistent market uncertainty and economic concerns.

The UK's FTSE 100 is up 6%, but Donald Trump's universal 10% levy for all countries, except China, remains in place.

The S&P 500 rose 9.5 percent after President Trump announced he would pause his “reciprocal” tariffs for 90 days, but economists warned that American importers were not out of danger.