Asian Markets Tumble Amid Escalating Trade Tensions

Asian markets experienced significant declines on Tuesday as the effects of U.S. President Donald Trump's tariffs on Mexico, Canada, and China became apparent. China's retaliatory tariffs on U.S. agricultural products and the announcement of additional tariffs fueled fears of a global trade war. Japan's Nikkei fell sharply by 1.2%, leading regional losses, while South Korea's Kospi and Hong Kong's Hang Seng also saw drops amid this tension. The broader regional impact included a weakened dollar, a slight rise in the Japanese yen and Chinese yuan, and declines in tech stocks, notably affecting semiconductor companies like TSMC and Nvidia. With the National People's Congress meeting in China imminent, investors are cautiously watching for potential stimulus announcements. Overall, heightened trade tensions continue to weigh heavily on global markets.