A sharp downward trend was observed in Asian stock markets at the start of the new week amid Trump’s tariffs and growing fears of a global trade war, as reported by international media.
Japan’s Nikkei Index fell by 9%, while Hong Kong’s Hang Seng dropped by 8%. In South Korea, trading was temporarily halted due to concerns of a severe downturn, while the Australian stock market faced a loss of $160 billion, with the benchmark S&P falling 6% within the first 15 minutes of trading.
The increase in U.S. tariffs and the decline in oil prices are affecting Arab countries as well, with the Saudi stock market suffering a loss of 500 billion riyals, as reported by international media. In addition, stock markets in Qatar, Kuwait, Muscat, and Bahrain also experienced declines.
According to Saudi media, this was the biggest drop in Gulf stock markets since May 2020 after U.S. President Trump imposed tariffs on several countries including Pakistan. Some countries have retaliated with tariffs on the U.S. as well.
