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Asia Stock Markets Plummet Following Trump Tariffs
Trump unveiled his steeper-than-expected tariffs on goods imported to the U.S. from other nations last week.
Photo by CHARLY TRIBALLEAU/AFP via Getty Images Major stock markets across Asia plummeted on Monday, compounding a global financial crisis triggered by U.S. President Donald Trump’s tariff hikes. The TAIEX index in Taipei has suffered its lowest drop on record, hitting 9.7%, the BBC reported, while Japan’s Nikkei 225 plunged nearly 9%. On April 9, a range of retaliatory tariffs is set to kick in, including 34% on imports from China (on top of the 20% already in place) and 20% on anything brought in from the European Union.
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