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Global markets fell on Monday for fear of an intensified global trade war before Donald Trump’s expected discovery of an additional tariffs.
Japanese, South Korean and Hong Kong shares fell sharply, accelerating a sale that began last week after US President Donald Trump said the mutual tariffs he is expected to announce on April 2 would be implemented globally.
“You would start with all the places,” Trump told reporters on board Air Force One. “We’ll see what happens.” He said that “every single country in Asia” dealing with “unjust trade practices” towards the US.
Benchmark of Japan Topix fell 3.2 percent and Nikkei 225 oriented to the exporter slid 3.9 percent. In South Korea, Kospi fell 2.2 percent. Hang seng of Hong Kong plunged 0.4 percent.
Ari hit a $ 3,098 record for Troy ounce while US treasury yields were reduced, in a sign that investors were gathering in safe assets.
“Many investors are (pending) that the current tariffs are announced, removing their positions and making profits,” Wei Li, head of the multi-type strategy for China at Paribas Assset Management. “This tariff notice … has affected the whole sense of market.”
Trump has billed April 2 as a ‘liberation day’ for the US economy, but his plans to throw so -called reciprocal tariffs for countries that judges have unfair trade relations with the US have alarmed investors.
In the currency markets, Jen strengthened 0.4 percent to the dollar in 149.30 ¥ while Korea won was flat. The US dollar dropped 0.2 percent against a basket of key trading partners.
Slides in Asia come after falling on Friday at the US, where S&P 500 RA 2 percent. Nasdaq, focused on Nasdaq technology slides 2.7 percent as the worsening of economic data raised the fear of staging.
