Asian stock markets plummeted on Monday following a significant downturn on Wall Street driven by President Trump's tariff increases and China's backlash. The S&P 500, Dow Jones, and Nasdaq experienced significant losses, with the Nikkei 225 dropping nearly 8% at opening. Major Asian markets, including Hong Kong and China's Shanghai Composite, mirrored this trend, while oil prices also fell sharply. Analysts anticipate ongoing market volatility as the resolution to the trade war appears distant, causing widespread panic among investors.
Tokyo's Nikkei 225 index lost nearly 8% shortly after the market opened, reflecting heightened market anxiety about the U.S.-China trade war and its global repercussions.
Wall Street experienced its worst crisis since the COVID pandemic, with major indexes like the S&P 500 and Dow experiencing significant drops of 6% and 5.5% respectively.
Market observers expect investors will face more wild swings in the days and weeks to come, with a short-term resolution to the trade war appearing unlikely.
With U.S. futures signaling further weakness and severe declines in Asian markets, panic ensued among investors, especially in response to Trump's tariff hikes.
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