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WorldPosted at: Apr 7 2025 3:46PM


US, China trade war shockwaves sends global markets plummeting, Asian countries worst victims

New York, Apr 7 (UNI) Following US President Donald Trump’s ‘reciprocal tariffs’ and China’s aggressive response, global markets plummeted to an all-time low, as the shockwaves triggered from the trade war between the two largest economies of the world had massive international repercussions, with Asian markets tanking.
According to CNN, Germany’s Dax opened down 9%, while London’s FTSE was about 5% lower. European markets were, on the whole, faring better than Asian markets in early trade on Monday. Japan’s benchmark Nikkei 225 index closed 7.9% lower, while the broader Topix finished down 7.7%. Tech giant Sony plummeted more than 10%.
In mainland China, where markets reopened after a public holiday, the Shanghai Composite Index closed 7.3% lower. The blue-chip CSI300 index also lost about 7%. In Hong Kong, the benchmark Hang Seng index last traded just under 12% lower. Chinese tech giants Alibaba and Tencent were each down more than 14% and 10% respectively.
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Tags: #US# China trade war shockwaves sends global markets plummeting# Asian countries worst victims
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