Global stock markets have taken a sharp dive following US President Trump’s announcement of sweeping “reciprocal” tariffs.
Japan’s benchmark Nikkei 225 fell 4 percent in early morning trading, while South Korea’s KOSPI and Australia’s ASX 200 dropped more than 2.3 percent and 1.6 percent, respectively.
While Trump made his announcement after US markets had closed earlier on Wednesday, stock futures – financial contracts where investors agree to buy or sell shares for a particular price on a specified future date – have also taken a steep fall.
Futures tied to the benchmark S&P 500 fell 3.6 percent, while those linked to the tech-heavy Nasdaq-100 plunged 4.5 percent.
Iconic US brands racked up some of the steepest declines among individual shares, with Apple, Nike and Tesla all dropping about 7 percent. (AlJazeera)
