Brief by Shorts91NewsDesk / 04:07am on 09 Apr 2025,Wednesday Business
Asian stock markets plunged after the U.S. imposed a sweeping 104% tariff on Chinese imports, intensifying fears of a global trade war. Japan’s Nikkei 225 fell nearly 4%, while markets in South Korea, Australia, and New Zealand also saw sharp losses. China’s blue-chip stocks dropped 1.2%, and Hong Kong’s Hang Seng index lost 3.1%. The U.S. S&P 500 reversed dramatically, erasing $5.8 trillion in four days. Oil prices hit four-year lows and the offshore yuan slumped to a record low, signaling broader economic turbulence and heightened recession fears across global financial systems. (PC: AP Photo)
