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The Independent UK

Business

Stuti Mishra

Asian stock markets plummet in aftermath of Trump tariffs announcement

Asia Donald Trump

US President Donald Trump appears on a television screen at the stock market in Frankfurt, Germany - (AP)

Stock markets across Asia fell on Thursday after US president Donald Trump announced sweeping new tariffs on imports, raising concerns about a potential global trade war and severe economic fallout.

Tokyo’s Nikkei 225 dropped as much as 4 per cent in early trade before partially recovering to close 2.9 per cent lower at 34,675.97 on Thursday. South Korea’s Kospi slipped 1.5 per cent, while Hong Kong’s Hang Seng fell 1.4 per cent.

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