Major Asian Markets Tumble Amid Escalating Trade War

The Asia-Pacific stock markets faced a significant downturn on Monday, as the ongoing trade war, initiated by United States President Donald Trump's tariffs, continues to wreak havoc across the region.

South Korea's Kospi saw a decline of 5.85%, while Hong Kong's Hang Seng plummeted by 8.68%, marking one of the steepest falls in the region. Japan's Nikkei 225 wasn't spared either, losing 5.81% of its value. The situation was similarly grim in mainland China, with the Shanghai Composite dropping by 5.70% and the Shenzhen Composite shrinking by 7.34%. Meanwhile, Australia's S&P/ASX 200 decreased by 3.71%.

In currency markets, the dollar traded 0.43% lower against the yen, selling for 146.35700.