Asian stocks slide as Trump hits more than 80 countries with new tariffs – business live
📰 source: theguardian_business · 💼 business
trump hit more than 80 countries with new tariffs of 10-12.5%, replacing a blanket 10% tariff from february that the supreme court had declared illegal. the japanese nikkei 225 shed 3.1%, china's sse composite fell 1.4%, hong kong's hang seng dropped 11.4%, and south korea's kospi lost 6.2%. oil had hit $100 a barrel yesterday on middle east escalation, and a sell-off in us tech stocks after tesla's weak earnings added pressure. the tariffs fall under section 301 of the trade act, targeting forced labor, a us trade representative said. asian markets also weighed china's warning that trade wars hurt everyone.
why it matters: new tariffs on 80+ countries escalate trade tensions, pressure global growth and risk assets amid geopolitical uncertainty.
source: theguardian_business
sentiment: -0.60 · impact: 0.90