Asia Markets: Asian markets sink as Trump ratchets up trade tensions [MarketWatch]
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Source: MarketWatch
Asian markets sink as Trump ratchets up trade tensions Asian markets plunged in early trading Monday, as the trade war between the U.S. and China heated up. On Friday, President Donald Trump raised tensions by announcing he would raise tariffs on $250 billion of Chinese goods to 30% from 25% starting Oct. 1, and hike tariffs on another $300 billion in Chinese imports to 15% from 10%, in two stages, on Sept. 1 and Dec. 15. Trump said Sunday at the G-7 summit in France that he had some regrets about hiking the tariffs, which the White House later clarified as meaning he regrets he didn’t raise them higher. Japan’s Nikkei NIK, -2.18% sank 2.1% and Hong Kong’s Hang Seng Index HSI, -2.70% slumped 2.7%. The Shanghai Composite SHCOMP, -0.99% fell 1.2% and the smaller-cap Shenzhen Composite 399106, -0.60% retreated 1%. South Korea’s Kospi 180721, -1.38% slipped 1.4%, while benchmark indexes in Taiwan Y9999, -1.48% , Singapore STI, -1.37% and Indonesia JAKIDX, -0.89% f
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