Trump tariff chaos rattles global markets as sweeping new levies spark heavy sell-offs across Asia and beyond. With tensions escalating between the U.S. and China, investors responded with panic, pushing indexes into freefall.
Asian Stock Markets in Turmoil
- Japan’s Nikkei plunged over 8%, while the Topix lost more than 6.5%.
- China’s Shanghai Composite dropped 6.7%, and the CSI300 lost 7.5%.
- Hong Kong’s Hang Seng opened more than 9% lower.
- South Korea’s Kospi fell 4.8%, triggering a circuit breaker.
- Taiwan’s Taiex plummeted 9.7%, with tech giants TSMC and Foxconn falling 10%.
US and Global Fallout
Trump tariff chaos has already wiped out $5.4 trillion from global markets, fueling fears of a prolonged trade war. Over the weekend, China retaliated with a 34% tariff on all U.S. goods. In response, U.S. stock futures plunged, putting the S&P 500 on the brink of a bear market.
Even traditional safe-haven assets like gold dropped 4%, while Brent crude and WTI oil lost over 2.4% and 2.5%, respectively.
Trump Unfazed Amid Crisis
President Trump told reporters aboard Air Force One:
“What’s going to happen with the market? I can’t tell you… but our country has gotten a lot stronger.”
He blamed the trade deficit with China and defended the tariffs, saying he’s willing to strike a deal—but only on U.S. terms.
Asian Leaders Push Back
- Japan’s Prime Minister Shigeru Ishiba urged Trump to reconsider the 24% tariff set to hit Japan this week.
- Taiwan’s President Lai Ching-te promised more U.S. imports and defense cooperation to ease tensions.
Barclays Downgrades Asia Outlook
Economists at Barclays have begun trimming growth forecasts for Asian economies, citing concern that South Korea, Singapore, and others may not successfully navigate these escalating trade tensions.
Meanwhile in Pop Culture…
As the world watches economic drama unfold, gamers are still buzzing over Season 2 of Marvel Rivals, featuring new Emma Frost patch notes. While the world economy buckles, virtual battles heat up in Marvel’s latest release—offering a surreal escape from market mayhem.
Source: CNN
