Asia stocks tumble as Trump ramps up China tariffs; RBI rate decision awaited
Asian financial markets are experiencing significant volatility following the United States' recent escalation of trade tariffs against China and other nations. Additionally, the Reserve Bank of India's (RBI) latest monetary policy decision has garnered attention amid these global economic tensions. Market Reactions: Japan: The Nikkei 225 index plunged over 5%, closing at 32,475.57, as investors reacted to the heightened trade tensions. Hong Kong and Shanghai: Both markets reported losses, reflecting broader regional concerns over the potential impact of U.S. tariffs. South Korea: The KOSPI index is on track to enter bear market territory, indicating a decline of 20% or more from recent highs. U.S. Tariff Escalation: President Donald Trump has imposed a 104% tariff on Chinese imports, intensifying the ongoing trade dispute. This move has led to increased market volatility and raised concerns about a potential global economic slowdown. Res...