Market Turmoil in Asia-Pacific

Following a significant selloff on Wall Street, major stock markets across the Asia-Pacific region experienced sharp declines during Monday's afternoon session. The downturn was triggered by the US administration's imposition of tariffs on various countries, prompting an immediate and hefty response from China.

China's Retaliatory Measures

China escalated the trade war by introducing a 34% tariff on all US goods, a move that sent global markets into a downward spiral. This retaliation has heightened investor fears, leading to a free fall in market indices across the board.

Regional Market Performances

At 7:16 am CET, South Korea's Kospi had plummeted by 5.16%, while Hong Kong's Hang Seng saw a dramatic drop of 11.21%. Japan's Nikkei 225 wasn't spared, falling by 6.25%. Meanwhile, in mainland China, the Shanghai Composite and Shenzhen Composite suffered losses of 6.72% and 9.39% respectively by 7:17 am CET. Australia's S&P/ASX 200 also felt the impact, declining by 4.06% at 7:18 am CET.

Currency Impact

The dollar's value against the yen decreased by 0.60%, trading at 146.2000 at 7:18 am CET, reflecting the broader financial uncertainty.