Asian stock markets have experienced a significant decline following the impact of President Donald Trump’s tariff policies, which continue to shake the global economy, reports Rks News.
Japan’s Nikkei 225 index has dropped by 6.3%, while Hong Kong’s Hang Seng has seen a sharp decline of 9.8%. Additionally, stocks of several major banks listed in Hong Kong, such as HSBC and Standard Chartered, have also suffered noticeable drops.
In the U.S. markets, futures contracts for stocks have been on a downward trend, suggesting that Wall Street may open with substantial losses during the day.
President Trump has defended his tariff policies, emphasizing that “sometimes you have to take medicine to fix something,” suggesting that harsh economic measures are necessary to address global issues.
On the other hand, Bill Ackman, a prominent Trump supporter on Wall Street, has warned that these tariffs could lead to a “nuclear economic winter” and has called for a 90-day pause in the imposition of taxes to allow financial markets to stabilize.
