Major indexes in Shanghai, Tokyo, Hong Kong, and Sydney saw losses between 4% and 12%, with the Hang Seng plunging 12.2%. “It’s a bloodbath,”** one analyst told the BBC.
Asian stock markets nosedived Monday following US President Donald Trump’s sweeping tariffs, sparking fears of a global recession.
Major indexes in Shanghai, Tokyo, Hong Kong, and Sydney saw losses between 4% and 12%, with the Hang Seng plunging 12.2%. “It’s a bloodbath,” one analyst told the BBC.
The downturn follows Trump’s 10–46% tariffs on goods from countries including Vietnam and Bangladesh. “Asia is bearing the brunt of the US tariff hike,” said Vanguard’s Qian Wang. Goldman Sachs now places US recession odds at 45%.
Wall Street and European markets also suffered heavy losses Friday. “US futures trading lower point to another hard session on Wall Street tonight,” said Julia Lee of FTSE Russell.