Asia-Pacific Markets React to Trump's Tariff Announcement

Asia-Pacific markets experienced a significant downturn on Friday, following President Donald Trump's announcement of new US tariffs. Japan's Nikkei 225 led the decline, plummeting as much as 4.21%, marking its steepest drop in months.

Wall Street's Influence and Global Recession Fears

The market selloff was influenced by Wall Street's worst session in five years. Trump's decision to impose reciprocal tariffs on over 180 countries has raised concerns about a potential trade war, which could push the global economy into a recession.

Regional Market Performances

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

Currency Market Reactions

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