The Asian market plunged in the wake of the reciprocal tariffs announcement made by Donald Trump in the White House’s Rose Garden on Wednesday. The US President stepped out yesterday evening to mark what he called one of the most important days in the history of America, the so-called Liberation Day.
Pledging to free the States from the economic shackles, he unveiled tariffs ranging from 10% to 50%. This declaration of trade war appeared to have a negative effect on the Asian markets, which opened lower. Japan’s benchmark stock index, the Nikkei 225, was down by 4% in early trading. Australia’s ASX 200 opened around 2% lower.
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