Global Market Turmoil: Asian Stocks Plunge Amid Recession Fears
Asian stock markets experienced a dramatic sell-off, plummeting to multi-year lows, fueled by escalating fears of a global recession. The Nikkei, Hang Seng, and Topix indices all saw declines of up to 10%
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Asian stock markets experienced a dramatic sell-off, plummeting to multi-year lows, fueled by escalating fears of a global recession. The Nikkei, Hang Seng, and Topix indices all saw declines of up to 10%
This market crash was precipitated by the White House's decision to impose significant tariffs, prompting retaliatory measures from China, including increased levies on US imports. China indicated that the market's reaction reflected the impact of their countermeasures.
The turmoil extended to US futures, with Dow futures down over 1,500 points, and S&P 500 and Nasdaq futures each falling by more than 4%. If these losses persist into the US trading session, the S&P 500 will enter a bear market, defined as a 20% decline from its peak, joining the Nasdaq and Russell 2000 indices. While the US 10-year Treasury yield remained near 4%, the 2-year yield dropped to its lowest point since 2022, signaling heightened investor anxiety.
The sharp decline across Asian markets underscores the growing concern over the escalating US-China trade dispute and its potential to trigger a global economic downturn.
