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The Asian-Pacific markets extended their sale on Monday as fears of a world trade war launched by the prices of US President Donald Trump fueled a mood of risk.
The Japanese markets led losses in the region at the start of trade. The reference Nikkei 225 plunged 8.03% while the larger Topix index dropped by 8.64%. Earlier in the day, trade in Japanese term contracts was suspended due to the circuit breaker market.
In South Korea, the Kospi index fell 4.34% at the opening, while Kosdaq with small capitalization fell by 3.48%.
Australia S&P / ASX 200 decreased by 6.07% to the opening. The reference slipped into the correction territory with a drop of 11% since its last summit in February, during its previous session.
The term contracts for the Hang Kong Hang Seng index amounted to 22,772 indicating a stronger open from the last closure of the HSI of 22,849.81.
American term contracts have dropped while investors’ hopes for the Trump administration having successfully negotiations with countries to reduce rates have been destroyed.
Meanwhile, American oil prices fell below $ 60 a barrel on Sunday in the United States. The US-term contracts in the United States West Texas Intermediate Brude fell by more than 3% to $ 59.74, their lowest since April 2021.
Trump’s main economic officials have rejected any fear of inflation and recession, declaring that the prices would persist all that the markets could do.
In the United States, in the United States, sold strongly last Friday, after China retaliated with new prices on American products, arousing fears of a world trade war which could lead to a recession in the greatest economy in the world.
Friday, the industrial average of Dow Jones dropped by 2,231.07 points, or 5.5%, to 38,314.86, the largest decrease since June 2020 during the Pandemic COVID-19.
The S&P 500 deposited 5.97% to 5,074.08, its greatest decrease since March 2020.
Meanwhile, the Nasdaq Composite, which captures many technological companies that sell there in China and also made there, dropped by 5.8%, to 15,587.79. This lowers the 22% index compared to its December record, representing a lower market in the terminology of Wall Street.
– Brian Evans of CNBC, Alex Harring and John Melloy contributed to this report.
