Asian shares deepen losses after another Wall St retreat as tariffs due to take effect
Asian shares sank again on Wednesday as the latest set of US tariffs, including a massive 104% levy on Chinese imports, was due to take effect.
Japan’s Nikkei 225 index initially lost nearly 4% and markets in South Korea, New Zealand and Australia also declined.
On Tuesday, the S&P 500 dropped 1.6% after wiping out an early gain of 4.1%. That took it nearly 19% below its record set in February. The Dow Jones Industrial Average dropped 0.8%, while the Nasdaq composite lost 2.1%. Uncertainty is still high about what President Donald Trump will do with his trade war.
-AP
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