Anxiety and uncertainty over U.S. tariffs and economic retaliation from China have caused foreign markets to plunge on Monday. European and Asian stock markets were the first to experience the economic fallout this week.
In Hong Kong, the Hang Seng dropped 13.22% to 19,828.30 on Monday, the Associated Press reported. Additionally, the SSE Composite Index on the Shanghai Stock Exchange fell 7.34% to 3096.58, Taiwan’s Taiex decreased 9.7% to 19232.35, and KOSPI in South Korea fell 5.57% to 2328.20. In Japan, Tokyo’s Nikkei dropped 7.83% to 31136.58.
Europe experienced similar economic downturns.
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Italy’s stock market index, the IT40, dropped over 7% to 32234, and Spain’s ES35 fell 6.1% to 11667. Great Britain’s FTSE 100 dipped 5% to 7652.73, and Paris’s CAC 40 lost 5.9% to
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