Reported about 13 hours ago
Asian markets experienced a significant plunge on Monday, driven by the intensification of the trade war initiated by US President Donald Trump. Japan’s Nikkei index dropped over 8%, falling below 33,000 for the first time since August 2024, while South Korea’s Kospi and China's Shanghai Composite also showed sharp declines. Investors reacted to the imposition of hefty tariffs, including a 24% tariff on Japan and a 34% tariff on US goods by China, raising fears of a damaging trade conflict. Amidst this turmoil, Trump stated he could not predict market behavior but insisted the US economy would ultimately emerge stronger.
Source: YAHOO