Asia Markets: Asian stocks slump after U.S. announces $200 billion in new tariffs on China [MarketWatch]
China Southern Airlines Company Limited (ZNH)
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Source: MarketWatch
Asian stocks slump after U.S. announces $200 billion in new tariffs on China Stocks fell across Asia on Wednesday after the U.S. threatened 10% tariffs on $200 billion in Chinese goods. The Shanghai Composite SHCOMP, -1.76% fell 1.8% and Hong Kong’s Hang Seng HSI, -1.29% retreated by 1.3%, while Japan’s Nikkei NIK, -1.19% lost 1.2%. Trade is once again front and center after a brief reprieve. Chinese shares swooned in morning trading. The biggest losers on the mainland included China Southern Airlines Co. 1055, -5.21% which fell 5.2%. Hong Kong-listed Chinese lenders fell too, with Bank of China Ltd. 3988, -1.89% dropping 1.9%. It isn’t just stocks. Commodities and foreign-exchange rates also swung after the U.S. unveiled fresh proposed duties on products from fish to luggage, a move that is likely to spur retaliation. Read: U.S. unveils tariffs on another $200 billion of Chinese goods Benchmark 3-month copper futures in London hit their lowest in nearly a year, befo
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