Asian stocks from Shanghai to Tokyo, Sydney and Hong Kong have plunged to an unprecedented level for decades as the global market continued from the tariffs of US President Donald Trump on Monday.
Shanghai composite materials fell by more than 8% at some point, Hong Kong’s destinations fell by more than 13%, and Japan’s Nikkei 225 decreased 7.8%. One analyst was a morning described in the BBC as a “lineage”.
The European market also fell In the initial transaction, banks and defensive companies are seeing the biggest decline. Trump follows a new tariff between 10% to 46% in most countries, followed by Global Slump last week.
This is a blow to Asia’s manufacturing hub, which calculates the United States as a major market for exports from clothing to automobiles.
This includes developing countries such as Vietnam for 46%, as well as wealthy allies such as Japan and Korea, facing 26%tariffs. Trump called the fast -growing economy as one of the “worst criminals.”
In addition, the impossible lists include Cambodia (49%), Thailand (36%) and China, which will face a total of 54%of tariffs.
Others, such as Singapore, New Zealand and Australia, have already entered into force of 10%.
“Asia is doing a cruel work of US tariff hikes. There may be room for negotiations, but a new regime of new tariffs may be here,” Qian Wang, an investor of VANGUARD’s Asia -Pacific Chief Economicist.
The Asian economy is also especially sensitive to the fear that the world’s largest economy, the world’s largest economy, can slow down or cause economic downturn. As a result, Asian exports will be hurt more.
Slumps in mainland China, Hong Kong, and Taiwan have been deteriorated because they catch the big falls that can be seen on other markets on Friday when they closed on Friday.
The Shanghai composite fell 7.3% and the Taiwan weight index lost 9.7%.
Australia’s ASX 200 lost 4.2% and Korea’s KOSPI decreased 5.6%.
HANG SENG has closed at 13.22%since 2008.
Julia Lee, a customer press officer at FTSE Russell, a subsidiary of the London Securities Exchange Group, said, “Targets meet the expectation of inflation and economic downturn.
Goldman Sachs predicted that investment banking companies are currently reducing the country’s economic growth forecasts, with a 35%relocation estimates that the US is likely to fall into the economic downturn over the next 12 months.
Other Wall Street companies also revised the economic downturn due to Trump’s tariffs. JPMORGAN is now seeing a 60% chance of the US and global economic downturn.
“This is negative for the small -scale open economy in the world and Asian economy, especially in the short and long term.”
Countries from Vietnam to Bangladesh have been largely dependent on the United States as an export market.
The major brands in the United States are producing products in Vietnam Including Nike And lululemon.
Bangladesh exports £ 8.4 billion pounds (6.5 billion pounds) to the United States every year to the United States, according to Bangladesh’s clothing manufacturers and export associations.
Thus, Trump’s announcement on 37%of the tariffs on Bangladesh last week is bad news for South Asian countries.
Frank Lavin, an international trade department at the US Department of Commerce, said, “Asia is likely to be unbalanced about this confusion because Asia sends more exports to the United States than other markets.
China, the largest economy in Asia, also fought back by its own tariffs. that Global stock market confusion Friday.
The three major US stock indexes fell by more than 5%, and the S & P 500 decreased almost 6%, preventing the worst in the US stock market since 2020.
In the UK, the FTSE 100 plunged almost 5%, the steepest drop in five years, and the exchange between Germany and France faced similar reductions.
Lee is also expected to continue the global stock market.
Since Trump announced a new 10%income tax on products in all countries through products in dozens of products in dozens of products, including major trading partners such as China, the European Union and Vietnam, have lost one trillion value.
