Asian stock markets are plummeting as the shockwaves from US President Donald Trump’s tariffs continue to reverberate around the world.
Major indexes from Shanghai to Tokyo and Sydney to Hong Kong plunged when they opened on Monday. “It’s a bloodbath,” one analyst told the BBC.
As a region that manufactures so many of the goods sold globally, Asian countries and territories are being hit directly by the tariffs.
They are also particularly sensitive to the impact of fears that a global trade war could trigger a slowdown or even a recession in the world’s biggest economy.
By midday, Japan’s Nikkei 225 benchmark index was down 6%, the ASX 200 in Australia was 4% lower and the Kospi in South Korea was 4.7% lower.
Slumps in mainland China, Hong Kong and Taiwan were exacerbated as investors caught up with the big falls seen in other markets on Friday as they were closed for public holidays.
The Shanghai Composite was down more than 6%, while…
