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Gold dropped more than 3% on Friday as investors sold off bullion to cover their losses from a wider market meltdown as an intensifying trade war sparked concerns of a global recession.
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The prime minister says the measures are designed to aid the UK motor industry, which has been hit by Trump's tariffs.
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On Black Monday, the Dow Jones Industrial Average in the US plunged 22.6% - the steepest one-day percentage drop in its history. The selloff was triggered by a mix of overvalued markets, rising interest rates and panic selling amplified by computer-driven trading. The stock market recovered most of the losses soon, following intervention by the US Federal Reserve.
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