Asian Markets Plunge Amid Trump's Tariff Announcement, Global Sell-Off Intensifies

Asian stock markets experienced a significant downturn on Monday, triggered by escalating fears of a global trade war following President Trump's announcement of new tariffs. Japan's Nikkei 225 fell nearly 9%, while Hong Kong's Hang Seng index dropped over 9%, marking the largest daily declines since the 2008 financial crisis. The Australian stock market also suffered, with the S&P/ASX 200 declining by more than 6%, as the broader Asian market faced massive losses, including South Korea's KOSPI and China's CSI300. Trump's determination to maintain these tariffs has raised concerns about a potential recession, with analysts warning that sustained trade tensions could tip the global economy into a downturn. In retaliation, China has implemented significant tariffs on American goods, further exacerbating market volatility. The sell-off reflects a broader anxiety in global financial markets, with trillions in equity values wiped out over recent trading sessions.