Asia-Pacific Markets React Sharply to New US Tariffs

Asia-Pacific markets experienced significant declines on Friday, following President Donald Trump's unexpected announcement of new US tariffs. The move has ignited fears of a potential global trade war, leading to a sharp sell-off across the region.

Japan's Nikkei 225 Leads the Decline

Japan's Nikkei 225 plummeted by as much as 4.21%, marking its steepest drop in months. This downturn mirrored Wall Street's worst session in five years, as investors worldwide reacted to the growing uncertainty.

Regional Markets Follow Suit

Australia's S&P/ASX 200 and South Korea's Kospi Composite also saw significant losses, dropping 2.44% and 1.80%, respectively. Meanwhile, markets in Hong Kong and China remained closed for the Qingming Festival, sparing them from the day's volatility.

Currency Markets Feel the Impact

The dollar weakened against the yen, trading 0.45% lower at ¥145.3795, as the tariff news reverberated through currency markets.