Asia-Pacific Markets React to Trump's Tariff Shock

In a dramatic response to President Donald Trump's latest tariff announcements, Asia-Pacific markets experienced significant downturns. Japan's Nikkei 225 led the plunge, dropping as much as 4.21%, marking its most severe decline in recent months.

Wall Street's Influence and Global Recession Fears

The downturn mirrored Wall Street's worst session in five years, as Trump's decision to impose reciprocal tariffs on over 180 countries sparked fears of an impending trade war and potential global recession.

Regional Market Impacts

Australia's S&P/ASX 200 fell by 2.44%, while South Korea's Kospi Composite saw a 1.80% decrease. The Nikkei 225 hit an intraday low of 33,259, down by 3.54%. Markets in Hong Kong and China remained closed for the Qingming Festival.

In currency markets, the dollar weakened against the yen, trading 0.45% lower at ¥145.3795.