Asia Markets: Asian stocks sink, led by Apple suppliers, on Trump’s latest tariff threat [MarketWatch]
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Source: MarketWatch
Asian stocks sink, led by Apple suppliers, on Trump’s latest tariff threat Asian stocks dropped Tuesday following President Donald Trump’s announcement of potentially $200 billion in additional tariffs against imports from China. In Japan, the yen jumped on that news, and the Nikkei NIK, -0.87% was off almost 1%. Export-related stocks slid, with Komatsu 6301, -1.50% shedding 1.5% while Honda 7267, -0.95% was down 0.9%. The dollar USDJPY, -0.64% was down 0.4% versus the yen at ¥110.13. China stocks opened sharply lower following Monday’s holiday and amid increased trade tensions with the U.S. The Shanghai Composite SHCOMP, -2.59% was off 2.2% in early trading and the Shenzhen Composite 399106, -3.93% was off 2%. The Shanghai benchmark has fallen three straight days and four consecutive weeks, finishing Friday at a 21-month low. Apple Inc. AAPL, -0.05% suppliers’ stocks were hit hard around the region, despite a report that U.S. tariffs would spare iPhones produced
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