Asian Markets Tumble After Trump's Tariffs Bombshell
HuffPost
Financial markets around the world have broadly been shaky lately because of uncertainty about Trump’s trade war.
BANGKOK (AP) — Asian markets and U.S. futures tumbled Thursday following U.S. President Donald Trump’s announcement of big increases in tariffs on imports of goods from around the world.
Tokyo’s Nikkei 225 index initially dipped more than 4%, but recovered slightly. It was down 2.9% at 34,675.97.
Trump said he was imposing a 24% “reciprocal tariff” on Japan, one of the United States’ closest allies.
South Korea, also an ally, was hit with a 25% tariff. Its benchmark Kospi slumped 1.5% to 2,468.97.
Hong Kong’s Hang Seng lost 1.4% to 22,887.03, while the Shanghai Composite index edged less than 0.1% lower, to 3,348.67.
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The military has razed homes, farmland and infrastructure around Gaza's border to the point of uninhabitability, potentially leading to long-term control.
Japan's share benchmark has nosedived after the meltdown Friday on Wall Street.
Palestinian health officials say Israeli strikes on the Gaza Strip killed at least 15 people overnight, including 10 women and children.
A video on the phone of one of 15 Palestinian medics killed by Israeli forces in Gaza shows that their emergency vehicles had their lights and sirens flashing when they came under a barrage of gunfire from troops.
The S&P 500 was down 3.8% in midday trading, after earlier dropping more than 5%, following its worst day since COVID wrecked the global economy in 2020.
South Korea’s Constitutional Court removed impeached President Yoon Suk Yeol from office on Friday.
Prime Minister Viktor Orbán denounced the only permanent global tribunal for war crimes and genocide, which issued the warrant for his Israeli ally.
Financial markets around the world have broadly been shaky lately because of uncertainty about Trump’s trade war.
Israel's defense minister said expanding operations will "crush and clean the area" of militants, despite children making up many of the strikes' victims.
The past month's total blockade has forced the World Food Program to prioritize giving its dwindling stock to starving Palestinians who need emergency food aid.
Magma began flowing at a volcano near the town of Grindavik.
The military order came during the Muslim holiday of Eid, and almost a year after Israel launched a devastating invasion of the city bordering Egypt.