Asian markets open on a tailspin on Monday
Asian markets open on a tailspin on Monday with Japan, Korea leading a wild sell-off caused by Washington’s ‘reciprocal tariffs’ policy | Asian markets kicked off the week with a sharp downturn on Monday amid growing jitters over escalating US protectionist tariffs and the ripple effects the tariffs caused all around the world. ● Japanese markets led losses in the region in early trade. The benchmark Nikkei 225 plunged 8.03 percent—its weakest level since October 2023—while the Topix Financial Index tumbled more than 12 percent in a sector-wide sell-off. ● South Korea's Kospi 200 index futures plummeted 6.8 percent, triggering a temporary halt on program-driven sell orders. At 9:12 am local times, automated selling was suspended for five minutes. The benchmark Kospi index plunged more than 4.7 percent during the session. ● Trading in Nikkei 225 and Topix index futures was temporarily halted in early session as frenzied selling triggered circuit breakers.
■ Trump threatens China with additional 50% tariffs if Beijing doesn’t nix retaliatory move (TASS)