ASIAN MARKETS DROP AS TRUMP SAYS TARIFFS TO START TUESDAY – Japan’s Nikkei share average sank 0.67% to 37,532.01 on opening bell
Stocks slumped in Asia U.S. tariffs on Canada, Mexico, and China are set to go into effect within hours.
Japan’s Nikkei share average sank 0.67% to 37,532.01 points right after stock markets opened in the morning.
Hong Kong’s benchmark Hang Seng Index lost 1.43%, to open at 22,678 points.
In South Korea, the benchmark Korea Composite Stock Price Index (KOSPI) opened down 0.39% at 2,522.96 points.
Investors turned sharply more risk-averse after U.S. President Donald Trump said 25% tariffs on Canada and Mexico will go into effect from 0501 GMT on Tuesday, along with a doubling of China levies to 20%.
Investors were also concerned about the fallout for the U.S. economy as well, particularly amid a run of soft data in recent weeks.
