Trump’s tariffs, China’s retaliatory tariffs 34%, US and China markets decline, as well as global markets – all that looks even more dramatic than the end of last week and seems to be just the beginning.
Hang Seng Index and CSI300 experienced the biggest daily drop since 2008, the same with US and global markets such as Daw Jones S&P 500, S&P/ASX 200, Nikkei 225, Kospi, etc.
China’s largest technology companies including Alibaba and Tencent fell more than 8%.
China has imposed export restrictions on rare earth elements and added US companies to an “untrustworthy list”.