The UK's energy partner.

Learn more at equinore.

Good morning from the newsroom of the Financial Times.

Today is Thursday, October 3rd. Good morning from the Newsroom of the Financial Times.

Today is Thursday, October 3rd,

and this is your FT news briefing.

After prevailing in a WTO case,

the White House moves to impose 25% tariffs on a number of EU imports.

And Donald Trump says he will cooperate after the U.S. House of Representatives serve the White House

with subpoenas.

And the F.T. Sebastian Payne dissects Boris Johnson's UK Conservative Party conference speech

and the Prime Minister's new Brexit plan.

But first, the F.T.'s Peter Wells explains why a series of events over the past few

days eventually pushed global stocks to fall heavily on Wednesday. I'm Mark Filipino, and

here's the news you need to start your day.

For me a lot of this goes back to Tuesday.

We had some really weak manufacturing readings that came out of Asia, then Europe.

This really all came to a head when we had a very key manufacturing gauge in the US that came in with its lowest reading since the financial crisis. That's where we got the first more

than 1% drop in the S&P 500. You wake up in Asia on Wednesday, you see the fall on Wall Street

overnight, sell off again, Europe sells off again, Wall Street comes out on the back foot.

Then we come to an issue with the World Trade Organization, who came out with a ruling in favor of the US against the EU for billions of dollars of subsidies

that it had provided to Airbus over the years.

...